Solution Found!
The price of shares of Bank of Florida at the end of trading each day for the last year
Chapter 0, Problem 66(choose chapter or problem)
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. a. What percent of the days was the price over $45.00? How many days would you estimate? b. What percent of the days was the price between $38.00 and $40.00? c. What was the stocks price on the highest 15 percent of days?
Questions & Answers
QUESTION:
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. a. What percent of the days was the price over $45.00? How many days would you estimate? b. What percent of the days was the price between $38.00 and $40.00? c. What was the stocks price on the highest 15 percent of days?
ANSWER:Step 1 of 4
The mean price of shares was 
Let 