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?
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?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter7: Nonlinear Optimization Models
Section: Chapter Questions
Problem 66P
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