The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with a mean of 1.377 in currency A (to currency B) and a standard deviation of 0.045 in currency A. Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely, complete part (a).
a) What would be the cutoff rate that would separate the 16% of currency A/currency B rates? The cutoff rate would be _.