I need the Excel table and functions for this question: ... I need the Excel tab

Question

I need the Excel table and functions for this question: ... I need the Excel table and functions for this question: Historical admission data from a business school indicates that GMAT scores of its applicants is normally distributed with a mean of 550 and a standard deviation of 120. They want to use this information in managing enrollment. (Assume that GMAT scores are continuous) a. If the school sets its cutoff GMAT score at 600 (i.e. applications with a GMAT score less than 600 are automatically rejected), what percentage of applications will be rejected? b. What is the interquartile range of GMAT scores for the applicants? c. What GMAT score must an applicant have to place him/her in the 90th percentile? d. What value should the GMAT cutoff score be set at, such that only 15% of applications are considered for admission? (only applications with GMAT scores above the cutoff are considered for admission). I need the Excel table and functions for this question:

Explanation / Answer

Given that GMAT scores of applicants is normally distributed with mean 550 and standard deviation 120

The excel table and functions are as follows

a. The percentage of applications will be rejected is given by the following excel function

Hence the percentage of applications will be rejected is 100*(0.6615) = 66.15%

b. The first and third quartiles of the distribution is given by the function

Hence the Inter quartile Range is by the excel function

c. The GMAT score an applicant must have to place him/her in the 90th percentile is given by

d. tThe value that should be set as GMAT cutoff score such that only 15% of applications are considered for admission is given by the excel function

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