hi
For normal distribution:
For 10% to be higher, we need
Therefore...
Looking at the standard distribution table, we see that corresponds to approx.
In other words, solve
Gives
So the loan is 2,780,000(czk)
Loans provided to customers of bank X follows Normal distribution with a mean of 1,500,000 crowns (czk). Given that the standard deviation is 1,000,000 czk which loan amount is such that only 10% of the loans have higher balance?