If GMAT scores for applicants at Oxnard Graduate School of Business are N(500, 50), then the...
If GMAT scores for applicants at Oxnard Graduate School of Business are N(500, 50), then the top 5 percent of the applicants would have a score of at least (choose the nearest integer)
Multiple Choice
-
601
-
582
-
608
-
575
Homework Answers
Solution:-
Given that,
mean = 
= 500
standard deviation = 
=50
Using standard normal table,
P(Z > z) = 5%
= 1 - P(Z < z) = 0.05
= P(Z < z) = 1 - 0.05
= P(Z < z ) = 0.95
= P(Z <1.65 ) = 0.95
z =1.65 ( using z table )
Using z-score formula,
x = z *
+
x = 1.65 * 50+500
x = 582
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