Hello everyone, I just have one Alg II math question that I need help on. This question is dealing with 'Standard Scores'. Thanks in advance for all your help in assisting me, thanks much!
Heres the question:
Use technology or a z-score table to answer the question.
The average balance at a credit union is normally distributed with a mean of $240 and a standard deviation of $100. Joe's balance is $260.
What percent of all accounts at the credit union have a balance less than Joe's?
Round your answer to the nearest whole number.
Don't know much about this but I think I can feel my way around......LOL!!!
Mean = $240
SD = $100
Joe's Balance = $260
Z = [ Joe's Balance - Mean Balance ] / SD =
[ 260 - 240 ] / 100 =
Looking up .2 in a table of Z scores we find that the value is .5793
So....58% have a balance less than Joe's