Question

3) The speaker states he need to find "x" based on given the Probability, "the bottom 5%"based on 95% probability. The speaker calculates 150.5. In my lecture video I refer to this as INVNORM(?,?,?) where we are doing the opposite of what we have already done (before we were given x and were finding probability. Now we have the probability (95%) and need to find x - in essence going backwards). Take your INVNORM answer 2 decimal places

-1.65=x-200/30

-49.5=x-200

X=150.50 lose 95% of the days normal distribution

Given the "bottom 5% what is the value of x must take 2 decimal places?

z- score for bottom 5% is z = -1.6449

x = μ + z * σ (where μ = mean and σ = standard deviation)

x = μ - 1.6449 * σ

Answer 1