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Suppose that the average stock price for companies making up the S&P 500 is $30. The standard deviation is $8.20. Assume that the stock prices

  1. Suppose thatthe average stock price for companies making up the S&P 500 is $30. The standard deviation is $8.20. Assume that the stock prices are normally distributed.

(a). What is the probability that a S&P 500 company's stock price is at least $40?

(b) How high would a company's stock price have to be to put it in the top 10% of S&P 500?

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