A consensus forecast is the average of a large number of individual analysts' forecasts. Suppose the...

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A consensus forecast is the average of a large numberof individual analysts' forecasts. Suppose the individual forecastsfor a particular interest rate are normally distributed with a meanof 6 percent and a standard deviation of 1.6 percent. A singleanalyst is randomly selected. Find the probability that his/herforecast is

Round your answers to 4 decimal places.



(a) At least 3.4 percent.


(b) At most 8 percent.


(c) Between 3.4 percent and 8percent.

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Solution Given that mean 6 006standard deviation 16 0016a 34 0034Px    See Answer
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