Express in your own words the procedure for finding the area ...

[big1devin]

Express in your own words the procedure for finding the area under the standard normal curve between z = 0 and z = 1.53.

Question 2

An auditor for a large oil corporation has taken a random sample of monthly credit card charges for 32 individual (non-corporate) accounts. She found a mean of 81.76 . Assume that the population standard deviation is 48.2 . A 98 confidence interval estimate for the population mean of individual credit card charges would be:
 a. 81.76  19.89.
  b. 81.76  16.72.
  c. 81.76  112.94.
  d. 81.76  22.0.
  e. 81.76  2.33.

[CharlieArnold]

Answer to Question 1

Use the standard normal table in text. Trace down the left hand column to 1.5 and go across the row until reaching the column headed at the top with .03. The value is 0.4370, which is the area between z = 0 and z = 1.53.

Answer to Question 2

A