Let X be normally distributed with a given mean and standard deviation. Sometimes you want to find
Question:
a. Find a and b so that there is probability 0.05 in each tail.
b. Find a and b so that there is probability 0.025 in the left tail and 0.075 in the right tail.
c. The usual answer to the general problem is the answer from part a, that is, where you put equal probability in the two tails. It turns out that this is the answer that minimizes the length of the interval from a to b. That is, if you solve the following problem: minimize (b - a), subject to P(a < X < b) = 0.90, you will get the same answer as in part a. Verify this by using Excel’s Solver add-in.
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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