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Time lapsed between two consecutive trades

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1. The true length of boards cut at a mill with a listed length of 10 feet is normally distributed with a mean of 123 inches and a standard deviation of 1 inch. What proportion of the boards will be over 125 inches in length?

2. A given data value has a Z-value equal to 0. Assuming a normal (i.e., symmetrical) continuous probability distribution, how many standard deviations is the data value from the mean?

3. You were told that the amount of time lapsed between consecutive trades on the New York Stock Exchange followed a normal distribution with a mean of 15 seconds. The probability that the time lapsed between two consecutive trades would fall below 13 seconds was 7%. What is the probability that the time lapsed between two consecutive trades will be longer than 17 seconds?

Reference no: EM131094265

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