Basic Business Statistics, Student Value Edition
Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Textbook Question
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Chapter 6, Problem 1PS

Given a standardized normal distribution (with a mean of 0 and standard deviation of 1, as in Table E.2), What is probability that

a . Z is less than 1.57 ? b . Z is greater than 1.84 ? c . Z is between 1.57 and 1.84 ? d . Z is less than 1.57 greater than 1.84 ?

a.

Expert Solution
Check Mark
To determine

The probability that Z is less than 1.57.

Answer to Problem 1PS

The required probability is 0.9417.

Explanation of Solution

The Table E.2 given in the Appendix of the book provides the area under the cumulative standardized normal distribution from to Z .

From the table, the cumulative probability corresponding to the value 1.57 is 0.9418, which can be written as:

PZ<1.57=0.9417

Thus, the probability is 0.9417.

b.

Expert Solution
Check Mark
To determine

The probability that Z is greater than 1.84.

Answer to Problem 1PS

The required probability is 0.0329.

Explanation of Solution

The probability that Z greater than 1.84 can be written as:

PZ>1.84=1PZ<1.84

From the table E.2, the cumulative probability corresponding to the value 1.84 is 0.9671, which can be written as, PZ<1.84=0.9671 .

Substituting the value in the above equation, the required probability is obtained as:

PZ>1.84=10.9671=0.0329

Thus, the probability is 0.0329.

c.

Expert Solution
Check Mark
To determine

The probability that Z is between 1.57 and 1.84.

Answer to Problem 1PS

The required probability is 0.0254.

Explanation of Solution

The probability that Z is between 1.57 and 1.84 can be written as:

P1.57<Z<1.84=PZ<1.84PZ<1.57

From the table E.2, PZ<1.57=0.9417 and PZ<1.84=0.9671 . Substituting these values in the above equation, the required probability is obtained as:

P1.54<Z<1.84=0.96710.9417=0.0254

Thus, the probability is 0.0254.

d.

Expert Solution
Check Mark
To determine

The probability that Z is less than 1.57 or greater than 1.84.

Answer to Problem 1PS

The required probability is 0.9746.

Explanation of Solution

The probability that Z is less than 1.57 or greater than 1.84 can be written as;

PZ<1.57 or Z>1.84=PZ<1.57+PZ>1.84

From part (a) and (b), it is obtained that PZ<1.57=0.9417 and PZ>1.84=0.0329 . Substituting these values in the above equation, the required probability is obtained as:

PZ<1.57 or Z>1.84=0.9417+0.0329=0.9746

Thus, the probability is 0.9746.

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Chapter 6 Solutions

Basic Business Statistics, Student Value Edition

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