Posted by Edward on Sunday, March 1, 2009 at 11:50am.
This question was posted twice in a row. I may look at it later, if someone else doesn't do it first.
Yes please. I think I hit the refresh button while posting. Sorry. Would love to work with you on getting some hints on getting this done.
If I'm interpreting this problem correctly and since the suggestion is to approximate the distribution by using the Gaussian (or normal) distribution, I would first find the z-score equated to 1% using a z-table. That would be -2.33 (below the mean of the distribution). Next, you will need to find mean and standard deviation. Once you have those values, substitute into the z-score formula, then solve for x.
Mean = np = (2000)(.5) = ?
Standard deviation = √npq = √(2000)(.5)(.5) = ?
Note: I am using .5 since no value for p is stated. Also, q = 1 - p.
Formula for z-score:
z = (x - mean)/sd
Substitute the values for mean and standard deviation when you finish the above calculations:
-2.33 = (x - mean)/sd
Now solve for x.
I hope this will help and is what the problem was asking.
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