Question

The net profit of an investment is normally distributed with a mean of $15,000 and a standard deviation of $5000. The probability that the investor's net gain will be at least $10,000 is ______.

Name: the net profit of an investment is normally distributed with a mean of 15000 and a standard deviation of 5000 the probability that the investors net gain will be at least 10000 is 16502
Uploaded: 2022-09-20T07:42:25-08:00
Duration: 2 min 15 s
Channel: Adi S
Description: the net profit of an investment is normally distributed with a mean of 15000 and a standard deviation of 5000 the probability that the investors net gain will be at least 10000 is 16502

          The net profit of an investment is normally distributed with a
mean of $15,000 and a
standard deviation of $5000. The probability that the investor's
net gain will be at least $10,000 is ______.

Added by Jennifer S.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Adi S

09/20/2022

Step 1

Step 1: Calculate the z-score for the net gain of at least $10,000: \[ z = \frac{10000 - 15000}{5000} = -1 \] Show more…

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The net profit of an investment is normally distributed with a mean of $15,000 and a standard deviation of $5000. The probability that the investor's net gain will be at least $10,000 is ______.