A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200 and 275.

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Author:Amos Gilat
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Question 1
A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between
200 and 275.
Question 2
The credit card payment, PaymentAmt, made last month by 100 credit card holders was obtained and processed using MINITAB. Some preliminary results are shown in Exhibit 2 below:
Exhibit 2
Variable
N
Mean
Median
StDev
SE Mean
PaymentAmt
100
163.76
158.5
65.59
6.56
Assuming that the distribution is normal, estimate the highest credit card payment made by the first 75% of these 100 credit card holders.
Transcribed Image Text:Question 1 A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200 and 275. Question 2 The credit card payment, PaymentAmt, made last month by 100 credit card holders was obtained and processed using MINITAB. Some preliminary results are shown in Exhibit 2 below: Exhibit 2 Variable N Mean Median StDev SE Mean PaymentAmt 100 163.76 158.5 65.59 6.56 Assuming that the distribution is normal, estimate the highest credit card payment made by the first 75% of these 100 credit card holders.
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