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Math Help - Econ Math help

  1. #1
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    Econ Math help


    Hello all, I have an attached Econ math question attached, it needs to be opened. Can someone show the formula for the very bottom question or how to solve it. I'm a little lost on it.

    Much Thanks.

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  2. #2
    MHF Contributor
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    Re: Econ Math help

    Hey Hugebart.

    Hint: The z-score of a normal distribution is given by Z = (X-mu)/sigma where mu is the mean and sigma is the standard deviation.

    You use that to calculate probabilities in terms of P(Z < z) and P(Z > z) = 1 - P(Z < z).
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  3. #3
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    Re: Econ Math help

    ok thank you for the formula, but I'm still lost, where do you plug the numbers in it, for the bottom question?
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