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93. (a) Most graduate school of business require applicants for admission to take the Graduate Management Admission Council's GMAT examination. Scores on GMAT are roughly normally distributed with a mean of 527 and a standard deviation of 1 12. (i). What is the probability of an individual scoring below 500 on the GMAT? Elli. (ii). What is the probability of an individual scoring above 500 on the GMAT? 54% (Ill). How high must an individual score on the GMAT t in the 85th percentile? 0 score to be am (IV). How high must an individual sco . score in the highest 5%? re on the GMAT m order to $91