1. For the following curves A, B, and C determine the mean µ and the standard deviation
|Curve||Mean µ||standard deviation σ|
2. According to a presentation on the Asian Development Bank Economic Report on the FSM done in 2005, investment in the fishing industry, primarily tuna fishing, by the FSM resulted in a mean loss µ of 3.874 million dollars per year with a standard deviation σ of 2.938 million dollars per year. Presume that the data is normally distributed.
|Calculate a z value from an x||z||=||=STANDARDIZE(x, µ, σ)|
|Calculate an x value from a z||x||= z σ + µ||=z*σ+µ|
|Find a probability p(x) from a z value where the probability p is the area to the left of z.||=NORMSDIST(z)|
|Find a z value from a probability p, where p is the area to the left of z||=NORMSINV(p)|