1. Suppose that the height of a man is normally distributed with a mean of 5' 9" (69") and a standard deviation of 2 inches. Find the minimum height of the ceiling of an airplane, such that at most 2 % of the men walking down the aisle will have to duck their heads.
a) Define the random variable, i.e., Let X = ?
b) Solve the problem.
2. A venture capital company feels that the rate of return (X) on a proposed investment is normally distributed with a mean of 30 basis points and a standard deviation of 10 basis points. Find the probability that the return will exceed 55 basis points.
a) Define the random variable for this problem
b) Write the probability statement for the event
c) Solve the problem