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Empirical research on stock market data for two consecutive trading days indicates that 50% of the stocks that went up on the first day also
Empirical research on stock market data for two consecutive trading days indicates that 50% of the stocks that went up on the first day also went up on the second day. Yesterday, 400 stocks went up. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p gives the proportion of the 400 stocks that went up X yesterday that will go up today. (b) Find the standard deviation of p. (c) Compute an approximation for P (p >0.53 ), which is the probability that more than 53% of the stocks that went up yesterday will go up again today. Round your answer to four decimal places
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