CFA Practice Question

There are 434 practice questions for this study session.

CFA Practice Question

Daily travel expenses for H&J Employees are normally distributed with a mean of $250 and a standard deviation of $38. Q1 for this distribution is ______.

A. $224.54
B. $275.46
C. $288.00
Explanation: We want the cutoff for the bottom 25% of the distribution. The row and column for a table value of 0.25 is row 0.6 and column of 0.07. The x-score for a z-score of -0.67 is 250 - 0.67(38) = 224.54. So, Q1 = $224.54.

User Contributed Comments 3

User Comment
ksnider why is 224.54 written on the graph? that gives the answer away...
Rivermax Given the mean is known at 250 logic suggests Q1 will be below this number.
Nakata Stupid question
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