Need help with statistic Question (Please show all steps)

Question

Determine Z_0.015

Answer 1

Hello, thank you for taking the time to post your question!

On this type of question you want to use either a Z table or some type of technology like Excel to convert the given p-value over into a Z value. When I do that I find that a p-value of 0.015 corresponds to Z = -2.17

I hope that helps get you moving in the right direction! Feel free to reach out if you have any additional questions beyond that :)

Answer 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.