CFA Practice Question

There are 434 practice questions for this study session.

CFA Practice Question

The daily sales at a certain shop follow a normal distribution with a mean of $1,060 and a standard deviation of $310. What is the probability that the daily sales are less than $409?

A. 0.0179
B. 0.4821
C. 0.5179
Correct Answer: A

The z-value corresponding to $409 is computed as: z = (409 - 1060)/310 = -2.10. From z-table P(Z <= -2.10) = 0.0179, P(Sales <= 409) = 0.0179.

User Contributed Comments 1

User Comment
Rotigga (409-1060)/310=-2.1
So we know this is between 95% and 99% CI (1.96 and 2.58 respectively). Which means left tail is between 2.5% and 0.5%.
The only answer in that range is A (0.0179) which is correct.
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