I have a distribution that is known to satisfy:
1) 30% of the distribution falls above $77,000$.
2) 20% of the distribution falls above $87,000$.
3) The distribution is normal
How can I infer the mean and standard deviation of the distribution?
I have a distribution that is known to satisfy:
1) 30% of the distribution falls above $77,000$.
2) 20% of the distribution falls above $87,000$.
3) The distribution is normal
How can I infer the mean and standard deviation of the distribution?
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Hint: Normal distribution is fully determined by mean $\mu$ and standard deviation $\sigma$. Then your data write $$\begin{aligned} 1-\Phi_{\mu,\sigma}(77000)=0.3\\ 1-\Phi_{\mu,\sigma}(87000)=0.2\\ \end{aligned}$$ where $\Phi_{\mu,\sigma}$ is cdf of normal distribution with mean $\mu$ and standard deviation $\sigma$.