Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that the return for a particular investment is normally distributed with a population mean of 11.1% and a population standard deviation of 5.4%. a.

Suppose that the return for a particular investment is normally distributed with a population mean of 11.1% and a population standard deviation of 5.4%. a. What is the probability that the investment has a return of at least 20%? (2 marks) b. What is the probability that the investment has a return of 10% or less? (2 marks). A person must score in the upper 1% of the population on an IQ test to qualify for membership with Mensa, the international high IQ society. If IQ scores are normally distributed with a mean of 100 and a standard deviation of 15, what score must a person have to qualify for Mensa? (2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Single And Multivariable

Authors: Deborah Hughes Hallett, Andrew M Gleason, William G McCallum

8th Edition

1119783267, 9781119783268

More Books

Students also viewed these Mathematics questions