In: Statistics and Probability
Solution:
We have to find the z-score such that 35% of all observations are greater than z .
That is: find z such that:
P( Z > z ) = 35%
P( Z > z ) = 0.35
Area above z is 0.35
then area below z would be : 1 - 0.35 = 0.65
Thus find z such that:
P( Z < z ) = 0.65
So look in z table for area = 0.6500 or its closest area and find z value.
Area 0.6517 is closest to 0.6500, and it corresponds to 0.3 and 0.09
thus z = 0.39
Thus required z value is 0.39
P( Z < 0.39) =0.6500
That is: P(Z > 0.39) =0.35