Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The price of shares of Bank of Florida at the end of trading each day for the last year followed the normal distribution. Assume there

The price of shares of Bank of Florida at the end of trading each day for the last year followed the normal distribution. Assume there were 240 trading days in the year. The mean price was $42.00 per share and the standard deviation was $2.25 per share.

  1. What is the probability that the end-of-day trading price is over $45.00?
  2. Estimate the number of days in a year when the trading price finished above $45.00.

c. What is the minimum share price for the top 15% of end-of-day trading prices?

pls share solution with excel based formulas.

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

An Engineering Approach To Linear Algebra

Authors: W W Sawyer

1st Edition

0511565941, 9780511565946

More Books

Students also viewed these Mathematics questions

Question

What is the persons job (e.g., professor, student, clinician)?

Answered: 1 week ago

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago