The monthly income of undergraduate students of Brac University is known to follow a normal distribution with a mean of Tk. 9000 and a standard deviation of Tk. 2500. A career bootcamp is being organised to help boost the students’ career prospects. The bootcamp curriculum is designed for students who are currently earning between Tk. 7000 and Tk. 12000, therefore only students who meet the requirements will be eligible for the program. a) What is the probability that a randomly selected student earns more than Tk. 10000? b) Determine the 75th percentile income of the students. c) What is the probability that a randomly selected student will not satisfy the requirement for the bootcamp?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
The monthly income of undergraduate students of Brac University is known to follow a
a) What is the
b) Determine the 75th percentile income of the students.
c) What is the probability that a randomly selected student will not satisfy the requirement for the bootcamp?
d) Historically, the bootcamp was seen to most benefit students who were in the top 10.25% of the accepted
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