Answers
Solution:-
Given that,
mean = = 44000
standard deviation = = 6500
a) Using standard normal table,
P(Z < z) = 90%
= P(Z < z) = 0.90
= P(Z < 1.282) = 0.90
z = 1.282
Using z-score formula,
x = z * +
x = 1.282 * 6500 + 44000
x =$ 52333
b) n = 10
=
= 44000
=
/
n = 6500 /
10 = 2055.48
Using z-score formula
= z *
+
= 1.282 * 2055.48 + 44000
= $ 46635
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