You’re reading the table incorrectly. The value of p=0.4801 is the proportion of under the standard normal distribution that is to the right of a Z-score of 0.05.
Use (only) the first column on the left to obtain a Z-score…i.e. go down this column and look for 1.6 – then move to right to find the second decimal place 1.64 and subsequently obtain the proportion of the curve to right of this value which is approximatley 0.05





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