Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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4. A credit rating company recommends granting of credit cards based on several
criteria. One is annual income. If the annual income of applicants is normally dis-
tributed with mean $22,000 and standard deviation $4,800 and the company
recommends no applicant unless his or her income exceeds $15,000, what fraction
of the applicants are denied on this basis?
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Transcribed Image Text:4. A credit rating company recommends granting of credit cards based on several criteria. One is annual income. If the annual income of applicants is normally dis- tributed with mean $22,000 and standard deviation $4,800 and the company recommends no applicant unless his or her income exceeds $15,000, what fraction of the applicants are denied on this basis?
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