Question

A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 100 and a standard deviation of 40. If one applicant is randomly selected, find the probability of a rating that is between 100 and 175. a. 0.668 b. 0.4696 c. 0.9332 d. 0.5 5. [3 pts] A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 100 and a standard deviation of 40. If 50 different applicants are randomly selected, find the probability that their mean is above 115. a. 0.1179 b. 0.3821 c. 0.4713 d. 0.0040

Answer 1

Let X denotes the ratings of a bank's loan officer.

X ~ N(=100, =40)

Note that,

and

      where n is sample size

■

                                  

                                  

                                  

Option b is correct.                (Answer)

■ Sample Size = n = 50

                      

                      

Therefore option d is correct.

z table :