Ask a question

Need help with statistic Question (Please show all steps)

Determine Z0.015

1 Answer by Expert Tutors

Tutors, sign in to answer this question.
Dattaprabhakar G. | Expert Tutor for Stat and Math at all levelsExpert Tutor for Stat and Math at all le...
5.0 5.0 (2 lesson ratings) (2)
You wish to find that value of the standard normal distribution to the left of which the area under the standard normal curve is 0.015 = 1.5 per cent.
Go to EXCEL or a similar package.  I used OPENOFFICECALC. Type in 0.015 in any cell, say cell A1. Place cursor on "f_subx".  It will say "function wizard".  Find NORMSINV from the menu. Click on it.  Enter the cell number (here A1) in between the parentheses.  You will see -2.17009038.  That is your answer.  In other words,
P[ Z < -2.17009038] = 0.015
You can cross-check easily.