Ask a question
0 0

Need help with statistic Question (Please show all steps)

Determine Z0.015
Tutors, please sign in to answer this question.

1 Answer

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.