Examlex
Solve the problem.
-The monthly incomes of trainees at a local factory are normally distributed with a mean of $1600 and a standard deviation $150. What percentage of trainees earn less than $1390 a month?
Probability Ranges
A statistical measure that estimates the range within which the value of a variable or outcome will fall, given a certain level of confidence.
Normal Distribution
A symmetric, bell-shaped frequency distribution that can be defined by its mean and standard deviation.
Percentage Return
The profit or deficit achieved on an investment over a designated duration, measured as a percentage of the investment’s initial value.
Bond
A fixed income investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period at a variable or fixed interest rate.
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