Homework Answers
| N-1 is the inverse of normal distribution for a given probaility. | |||||||||
| It can be found using the Z- table of standard nomal distribution or using the Norm.Inv() function in excel. | |||||||||
| For standard normal distribution, mean is zero and the standard deviation is 1. | |||||||||
| From Z -table value of Z needs to be found for probability of 0.99 which is 2.33. | |||||||||
| N-1 (0.99) | 2.33 | =NORM.INV(0.99,0,1) | |||||||
| 20*N-1 (0.99) | 20*2.33 | ||||||||
| 46.5 | |||||||||
| Hence value of N-1is | 2.33 | ||||||||
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