Business, 02.03.2020 19:04 jasmelynn16

G Credit card applicants have an average credit rating score of 667. Assume the distribution of credit scores is Normal with a standard deviationof 65. Use this information to answer the problems below. Write probability statementsand show all of your work.70. What is the probability that a single applicant for a credit card will have a credit rating score above 700?

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Answer from: brmoen1392

$P(X700)=P(\frac{X-\mu}{\sigma}\frac{700-\mu}{\sigma})=P(Z\frac{700-667}{65})=P(z0.508)$

And we can find this probability using the complement rule and excel or a calculator and we got:

P(z0.508)=1-P(z

Explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".

Solution to the problem

Let X the random variable that represent the rating score of a population, and for this case we know the distribution for X is given by:

$X \sim N(667,65)$

Where $\mu=667$ and $\sigma=65$

We are interested on this probability

P(X700)

And the best way to solve this problem is using the normal standard distribution and the z score given by:

$z=\frac{x-\mu}{\sigma}$

If we apply this formula to our probability we got this:

$P(X700)=P(\frac{X-\mu}{\sigma}\frac{700-\mu}{\sigma})=P(Z\frac{700-667}{65})=P(z0.508)$

And we can find this probability using the complement rule and excel or a calculator and we got:

P(z0.508)=1-P(z

Answer from: Quest

answer; the above statement is (true);

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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G Credit card applicants have an average credit rating score of 667. Assume the distribution of cred...

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