What is the lowest z-value for the highest 2% of observations on the standard normal distribution?
Use same table.
2.05
2.0537
To find the lowest z-value for the highest 2% of observations on the standard normal distribution, you need to locate the z-value that corresponds to a cumulative probability of 98%.
1. Start by understanding the standard normal distribution, also known as the Z-distribution. It is a bell-shaped curve with a mean of 0 and a standard deviation of 1.
2. Since you are looking for the highest 2% of observations, you need to find the z-value that leaves 2% of the area under the curve to the right of it. This is equivalent to finding the z-value that has a cumulative probability of 98%.
3. To determine the z-value corresponding to a cumulative probability of 98%, you can use statistical software, a statistical table, or a calculator with a cumulative distribution function (CDF) for the standard normal distribution.
4. If you prefer to use a standard normal distribution table, locate the closest probability value to 0.98 in the body or margins of the table. The corresponding z-value will give you the answer.
5. Alternatively, you can use a statistical software or calculator and input the probability of 0.98 into the cumulative distribution function. The output will be the z-value that corresponds to the desired cumulative probability.
Using these steps, you can find the lowest z-value for the highest 2% of observations on the standard normal distribution.