Q: The number of shares of a stock traded during a day for a firm is approximated by a random variable that is normally distributed with mean 3192 and standard deviation 1181. What is the probability that the number of shares traded is less than or equal to 4200?
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Q: A normally distributed random variable with a mean of 3192 and a standard deviation of 1181 approximates the number of shares of a firm’s stock that are exchanged in a given day. How likely is it that there will be fewer than or equal to 4200 shares traded?
- 0.9998
- 0.20
- 0.80
- 0.002
- 0.50
- 0.0002
Explanation: Thus, the probability that the number of shares traded is less than or equal to 4200 is approximately 0.8023.
