A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200 and 275. Write your answer as a decimal rounded to 4 places.
Solution :
Given that ,
mean = = 200
standard deviation = = 50
P(200 < x < 275) = P((200- 200)/ 50) < (x - ) / < (275 -200) / 50) )
= P(0 < z < 1.5)
= P(z < 1.5) - P(z < 0)
= 0.9332 - 0.5000
= 0.4332
Probability = 0.4332
The probability of a rating that is between 200 and 275 is 0.4332
A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean...
A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200 and 275. A) 0.9332 B) 0.5 C) 0.4332 D) 0.0668
A banks loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. if an applicant is randomly selected, find the probability of a rating that is between 200 and 275. Round to four decimal places.
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home / study / math / statistics and probability / statistics and probability questions and answers / a bank's loan officer rates applicants for credit. the ratings are normally distributed with ... Question: A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find P60 the score which separates the lower 60% from the top 40%
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