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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 85.5 and a standard

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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 85.5 and a standard deviation of 26.1. On average, the brokerage receives $7.7 commission per trade. For samples of size n = 13 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 = thousand dollars b) Standard deviation = 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) less than $602, 140? b) between $596,750 and $745,360? 3. For the given sample size, what is the minimum average daily commissions receivable from the highest 21.5% volume trading days? Round to the nearest thousand dollars

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