Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me tks The daily exchange rates for the two-year period 2011 to 2013 between the Japanese Yen (JPY) and the Australian Dollar (AUD) can

help me tks

image text in transcribed
The daily exchange rates for the two-year period 2011 to 2013 between the Japanese Yen (JPY) and the Australian Dollar (AUD) can be modelled by a Normal distribution with mean, u = 82 Yen and a standard deviation , o = 24 Yen. Draw diagrams and use Excel to help you solve the following problems. 1. What is the probability that a on a randomly selected day during this period, the Dollar was worth less than 87 Yen? (4 dp) 2. What proportion of the days during this period will the Dollar be worth between 55 and 87 Yen? (4 dp) 3. If you randomly select 175 days during this period, how many days would you expect the Dollar to be worth between 55 and 87 Yen? (round to nearest integer)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics

Authors: Gary Chartrand, Ping Zhang

1st Edition

1478616261, 9781478616269

More Books

Students also viewed these Mathematics questions