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View Policies Current Attempt in Progress Suppose that X has a lognormal distribution with parameters 0 = 0 and m2 = 4. Deter

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Answer #1
for lognormal distribution z score =(ln(x)-ϴ)/ω

a)

probability =P(24<X<59)=P((ln(59)-0)/2)<Z<P((ln(24)-0)/2)=P(1.59<Z<2.04)=0.9793-0.9441=0.0352

b)

for 5th percentile critical value of z=-1.645
therefore 5 th percentile =x=e(ϴ+ωz)=0.0373

c)

mean=μ= e(ϴ+ω2/2)= 7.39
variance=σ2= e(2ϴ+ω2)*(eω2-1)= 2926
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