Question 2. These data can be approximated quite well by a N(3.4, 3.1) model. Ec

Question

Question 2. These data can be approximated quite well by a N(3.4, 3.1) model. Economists become alarmed when productivity decreases. According to the normal model what is the probability that the percent change in worker output per hour from the previous quarter is more than 0.5 standard deviations below the mean? 6748X Question 3. What is the probability that the percent change in worker output from the previous quarter is between -1.25 and 7.895? Use the normal model mentioned at the beginning of question 2 8597

Explanation / Answer

Answer - 2: P(Percent change is more than 0.5 standard deviation below the mean)

= P(z < -0.5)

= 0.3085

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