σ = 0.01,2.28% below 0.32; μ = ?
A)0.25
B)1.30
C)0.60
D)0.55
E)0.34

Name: σ = 0.01,2.28% below 0.32; μ = ? A)0.25 B)1.30 C)0.60 D)0.55 E)0.34
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The z-score for 2.28% in the lower tail of a standard normal distribution is approximately -2. This means that 0.32 is 2 standard deviations below the mean. Using the formula μ = x - zσ, where x = 0.32, z = -2, and σ = 0.01, we find μ = 0.32 - (-2)(0.01) = 0.34.

σ = 0.01,2.28% Below 0.32; μ =