Most graduate schools of business require applicants for admission to take the Graduate Management Admission Council’s GMAT examination. Scores on the GMAT are roughly normally distributed with a mean of 527 and a standard deviation of 112.
(1) What is the probability of an individual scoring above 600 on the GMAT?
(2) How high must an individual score on the GMAT in order to score in the highest 5%?
