Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260579611
Author: Douglas Lind; William Marchal; Samuel Wathen
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 7, Problem 54CE

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. a. What is the probability that the end-of-day trading price is over $45.00? Estimate the number of days in a year when the trading price finished above $45.00.
  2. b. What percent of the days was the price between $38.00 and $40.00?
  3. c. What is the minimum share price for the top 15% of end-of-day trading prices?
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Chapter 7 Solutions

Statistical Techniques in Business and Economics

Ch. 7 - Microwave ovens only last so long. The life-time...Ch. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Prob. 5ECh. 7 - Prob. 6ECh. 7 - Prob. 2SRCh. 7 - The distribution of the annual incomes of a group...Ch. 7 - Explain what is meant by this statement: There is...
Ch. 7 - List the major characteristics of a normal...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 11ECh. 7 - Prob. 12ECh. 7 - The temperature of coffee sold at the Coffee Bean...Ch. 7 - A normal population has a mean of 20.0 and a...Ch. 7 - A normal population has a mean of 12.2 and a...Ch. 7 - Prob. 15ECh. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SRCh. 7 - Prob. 17ECh. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - Prob. 19ECh. 7 - Prob. 20ECh. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22ECh. 7 - Prob. 6SRCh. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Prob. 28ECh. 7 - Prob. 29ECh. 7 - Prob. 30ECh. 7 - Prob. 7SRCh. 7 - Prob. 31ECh. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 33ECh. 7 - Prob. 34ECh. 7 - Prob. 35CECh. 7 - Prob. 36CECh. 7 - Prob. 37CECh. 7 - Prob. 38CECh. 7 - Prob. 39CECh. 7 - Prob. 40CECh. 7 - Prob. 41CECh. 7 - Prob. 42CECh. 7 - Prob. 43CECh. 7 - Prob. 44CECh. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 47CECh. 7 - Prob. 48CECh. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 51CECh. 7 - Prob. 52CECh. 7 - The weights of canned hams processed at Henline...Ch. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 55CECh. 7 - Prob. 56CECh. 7 - Prob. 57CECh. 7 - Prob. 58CECh. 7 - Prob. 59CECh. 7 - Prob. 61DACh. 7 - Prob. 62DACh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 1CCh. 7 - Prob. 2CCh. 7 - Prob. 3CCh. 7 - Prob. 4CCh. 7 - Prob. 5CCh. 7 - Prob. 1.1PTCh. 7 - Prob. 1.2PTCh. 7 - Prob. 1.3PTCh. 7 - Prob. 1.4PTCh. 7 - Prob. 1.5PTCh. 7 - Prob. 1.6PTCh. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PTCh. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PTCh. 7 - Prob. 1.11PTCh. 7 - Prob. 1.12PTCh. 7 - Prob. 1.13PTCh. 7 - Prob. 1.14PTCh. 7 - Prob. 1.15PTCh. 7 - Prob. 2.1PTCh. 7 - Prob. 2.2PTCh. 7 - Prob. 2.3PTCh. 7 - Prob. 2.4PTCh. 7 - Prob. 2.5PTCh. 7 - Prob. 2.6PTCh. 7 - Prob. 2.7PT
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