Answer to Question #268291 in Statistics and Probability for migs

Question

The average Pag-ibig salary loan for TIC 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

Solution:

$μ=13000 \\σ=3500 \\P(X<16500)=P(Z< \dfrac{16500−13000}{3500} ​ ) \\=P(Z<1) \\=0.8413$