In: Finance
In determining automobile-mileage ratings, it was found that the mpg (X) for a certain model is normally distributed, with a mean of 33 mpg and a standard deviation of 1.7 mpg. Find the following: a. P(X<30) b. P(28
P(X < 36) = X-U/SD
= 36-34/1.4
= 1.43
The probability at z value 1.43 is 0.9236.
P(X<31) = 31-34/1.4
= -2.14
The probability at z value -2.14 is 0.0162
Required probability = 0.9236-0.0162
= 90.74%
P(X < 37) = 37-34/1.4
= 2.14
The probability at z value 2.14 is 0.9838
P(X > 37) = 1-P(X < 37)
= 1-0.9838
= 1.62%