Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.The lead analyst at an investment firm has recently analyzed thecompany's 403(b) clients and determined that the annual contribution is approximately normally distributed with a
1.The lead analyst at an investment firm has recently analyzed thecompany's 403(b) clients and determined that the annual contribution is approximately normally distributed with a mean equal to $6,900. Further, he has determined that the probability a customer will contribute more than $15,000 is 0.035. Based on thisinformation, what is the standard deviation of contributions to the403(b) program?
The standard deviation is $.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started