Since P represents the probability that an event will occur, here the probability of owning a house, it is measured by the area of the standard normal curve from —to to Ii as shown in Figure 15.4a.
Now to obtain information on Ii, the utility index, as well as on ft1 and ft, we take the inverse of (15.9.2) to obtain:
Was this article helpful?
Learning About The Rules Of The Rich And Wealthy Can Have Amazing Benefits For Your Life And Success. Discover the hidden rules and beat the rich at their own game. The general population has a love / hate kinship with riches. They resent those who have it, but spend their total lives attempting to get it for themselves. The reason an immense majority of individuals never accumulate a substantial savings is because they don't comprehend the nature of money or how it works.