Question

Use Excel to look up the following Z values. Note that Z_A is the Z-value that gives you the associated probability or the area under the curve (A – Area). Write out the Excel function and inputs used for your calculation.

a. P(Z<Z_.70)= .70 Show solution graphically. Make sure the probability and z value are clearly labeled.

b. P(Z>Z_.12)= .12 Show solution graphically. Make sure the probability and z value are clearly labeled.

c. P(-Z_A<Z<Z_A)= .88 Assume that probability is centered in the middle of the distribution. Show solution graphically. Make sure the probability and z value are clearly labeled.

Answer 1

(a) The Excel formula is NORMSINV(0.7). The result is z = 0.5244 (The blue line)

(b) The Excel formula is -NORMSINV(0.12). The result is z = 1.1750 (The blue line)

(c) The Excel formula is -NORMSINV((1-0.88)/2). The result is z = 1.5548 (The blue lines)

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