Question

1. Find the following z values for the standard normal variable Z. (You may find it useful to reference the z table. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)

a.P(Z ≤ z) = 0.8604

b.P(Z > z) = 0.714

c.P(−z ≤ Z ≤ z) = 0.79

d.P(0 ≤ Z ≤ z) = 0.3202

2. An estimated 1.8 million students take on student loans to pay ever-rising tuition and room and board (The New York Times, April 17, 2009). It is also known that the average cumulative debt of recent college graduates is about $22,500. Let the cumulative debt among recent college graduates be normally distributed with a standard deviation of $8,000. Approximately how many recent college graduates have accumulated a student loan of more than $35,000? (You may find it useful to reference the z table. Round "z-value" to 2 decimal places.)

Answer 1