Use z score to solve the probability

Assignment Help Mathematics

Reference no: EM13118186

Use z score to solve the probability
Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. In May 1995, the daily price of gold (1 troy ounce) was believed to have a mean of $383 and a standard deviation of $12. A broker, working under these assumptions, wanted to find the probability that the price of gold the next day would be between $394 and $399 per troy ounce. In this eventuality, the broker had an order from a client to sell the gold in the client's portfolio. What is the probability that the client's gold will be sold the next day?

Reference no: EM13118186

Questions Cloud

Integer divisibility problem : A dart board has regions worth a points and b points, where a and b are positive integers with no common factors. What is the largest point total that cannot be obtained by throwing darts at the board?

Application of mean value theorem : Verify that the function f(x) = e^-2x satisfies the hypothesis of mean value theorem on the interval [0, 3] and find all the number c that satisfy the conclusion of the mean value theorem.

Calculate the net private benefits of the project : Calculate the net private benefits of the project to the foreign-owned company, as a net present value and calculate the net social benefits of the project from the viewpoint of the Australian economy, with the same criterion.

How many copies of each gene are there in the cell : In a Drosophila virilis salivary gland cell before endomitosis, how many copies of each gene are there in the cell? At the end of endomitosis, how many copies of each gene are there in the cell?

Use z score to solve the probability : Use z score to solve the probability. Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time.

Multiplication of degrees theorem : Let u be an algebraic element of K (field extension of F) whose minimal polynomial in F[x] has prime degree. If E is a field such that F is contained in E is contained in F(u)

Find probability candy is randomly taken from the bag : A paper bag contains a mixture of three types of candy. There are ten gum balls, seven candy bars, and three packages of toffee. Suppose a game is played in which a candy is randomly taken from the bag

Find probability using normal distribution for ph values : Assume a normal distribution for pH values. If a random sample of 10 readings in a vat is taken and the mean pH is computed, find each of the following?

How much heat is evolved : How much heat (in {rm kJ}) is evolved in converting 1.00 mol of steam at 140.0 C to ice at -55.C? The heat capacity of steam is 2.01J/g* C and of ice is 2.09 j/g* C.

User Account

All Pages