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The number of trades (in thousands) completed daily by an online stock brokerage follows a normal distribution with a mean of 96.8 and a standard
The number of trades (in thousands) completed daily by an online stock brokerage follows a normal distribution with a mean of 96.8 and a standard deviation of 24.8. On average, the brokerage receives $7.18 commission per trade. For samples of size n = 9 days: 1. Determine the mean and standard deviation of the sampling distribution of the sample mean daily commissions received (in thousand dollars) accurate to 3 decimal places: a) Mean = [:1 thousand dollars b) Standard deviation = [:j thousand dollars 2. Determine the following probabilities (as percentages) accurate to one (1) decimal place. What is the probability that the mean daily commissions received is a) more than $605,992? C] % b) between $587,324 and $796,262? C] % Screenshot b) Standard deviation = [:1 thousand dollars 2. Determine the following probabilities (as percentages) accurate to one (1) decimal place. What is the probability that the mean daily commissions received is a) more than $605,992? C] % b) between $587,324 and $796,262? C] % 3. For the given sample size, what is the minimum average daily commissions receivable from the highest 5.5% volume trading days? Round to the nearest thousand dollars. C] Question Help: [a Read El Video Check Answer Screenshot
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