In: Statistics and Probability
Use a table of cumulative areas under the normal curve to find the z-score that corresponds to the given cumulative area. If the area is not in the table, use the entry closest to the area. If the area is halfway between two entries, use the z-score halfway between the corresponding z-scores. If convenient, use technology to find the z-score.
.048
Solution:
Given:
Area = 0.048
Use following Excel command:
=NORM.S.INV( probability)
=NORM.S.INV(0.048)
=-1.66456
=-1.665
Thus z value = -1.665
Using z table:
Look in z table for Area = 0.048 or its closest area and find corresponding z value.
From above table we can see area 0.0480 is in between 0.0475 and 0.0485 and both are at same distance from 0.0480 , Hence corresponding z values are -1.66 and -1.67
Thus average of both z values is -1.665
Thus z = -1.665.