Suppose X Is a Normal Random Variable with Mean 60

question 42

Multiple Choice

Suppose x is a normal random variable with mean 60 and standard deviation 2.A z score was calculated for a number,and the z score is 3.4.What is x?

• A)63.4
• B)56.6
• C)68.6
• D)53.2
• E)66.8

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Definitions:

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Interest

A charge for borrowed money, generally a percentage of the amount borrowed, paid by the borrower to the lender over a set period.

Borrower's Payment

The amount of money a borrower is required to pay back to a lender, often on a regular schedule, including both principal and interest.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, used in discounting to assess investment opportunities.