1. Personnel tests are designed to test a job? applicant's cognitive? and/or physical abilities. A particular dexterity test is administered nationwide by a private testing service. It is known that for all tests administered last? year, the distribution of scores was approximately normal with mean 80 and standard deviation 7.8.
a. A particular employer requires job candidates to score at least 85 on the dexterity test. Approximately what percentage of the test scores during the past year exceeded 85??
b. The testing service reported to a particular employer that one of its job? candidate's scores fell at the 90th percentile of the distribution? (i.e., approximately 90?% of the scores were lower than the? candidate's, and only 10?% were? higher). What was the? candidate's score?
a. Approximately ?% of the test scores during the past year exceeded 85.
?(Round to one decimal place as? needed.)
b. The? candidate's score was ??.
?(Round to the nearest whole number as? needed.)
2. Financial analysts who make forecasts of stock prices are categorized as either? "buy-side" analysts or? "sell-side" analysts. The mean and standard deviation of the forecast errors for both types of analysts are shown in the table to the right. Assume that the distribution of forecast errors are approximately normally distributed.
a. Find the probability that a? buy-side analyst has a forecast error of ?+2.01 or higher is ??
?(Round to three decimal places as? needed.)
b. The probability that a? sell-side analyst has a forecast error of ?2.01 or higher is??
?(Round to three decimal places as needed.)
Buy-Side Analysts Sell-Side Analysts
Mean 0.88 -0.07
Standard Deviation 1.95 0.85