The President s Economic Advisory Council publishes an economic forecast every
The President’s Economic Advisory Council publishes an economic forecast every year. In the latest report, a normal distribution is used to describe the possible percentage change in US GDP (Gross Domestic Product) for the upcoming year. The distribution is centered on a rate of 4.2% and has a standard deviation of .7%. According to this distribution, how likely is it that the change in GDP will be
a. Less than 3.5%?
b. Between 3.8% and 5.0%?
c. Greater than 6.0%?
d. Between 4.5% and 5.5%?
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