Answer to Question #265829 in Statistics and Probability for nik

Question

The average Pag-ibig salary loan for RFS Pharmacy, Inc. employees is ₱13,000. If the debt is normally distributed with a standard deviation of ₱3,500, find the probability that the employee owes less than ₱16,500.

 

Solution:

Step 1: Draw a figure and represent the area.

Step 2: Find the z value.

Step 3: Find the appropriate area.

 

 

Answer 1

$\mu = 13000 \\ \sigma= 3500 \\ P(X<16500) = P(Z< \frac{16500-13000}{3500}) \\ = P(Z< 1) \\ = 0.8413$