Find the indicated probability.
-A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200
And 275.

Question

Quizplus · Accepted Answer

To find the probability of a rating that is between 200 and 275, we need to find the area under the normal curve between the z-scores that correspond to these values.

The z-score for a rating of 200 is:

z = (200 - 200) / 50 = 0

And the z-score for a rating of 275 is:

z = (275 - 200) / 50 = 1.5

Using a standard normal distribution table or calculator, we can find that the area under the curve between z = 0 and z = 1.5 is approximately 0.4332. Therefore, the probability of a rating between 200 and 275 is 0.4332.

Find the Indicated Probability