Assignment Task: Normal Distribution - Probability
Problem 1:
A. What the mean and standard deviation (SD) of the Close column in your data set?
B. If a person bought one share of Google stock within the last year, what is the probability that the stock on that day closed at less than the mean for that year? Hint. The probability would be the same for any normal distribution.
Problem 2: If a person bought one share of Google stock within the last year, what is the probability that the stock on that day closed at more than $600?
Problem 3: If a person bought one share of Google stock within the last year, what is the probability that the stock on that day closed within $45 of the mean for that year?
Problem 4: Suppose a person within the last year claimed to have bought Google stock at closing for $450 per share. Would such a price be considered unusual? Use the definition of "unusual" from the course textbook.
Problem 5: At what prices would Google have to close for it to be considered statistically unusual? You will have a low and high value. Use the definition of "unusual" from the course textbook that is measured as some standard deviations.
Problem 6: What are Quartile 1, Quartile 2, and Quartile 3 in this data set? Use Excel to find these values. This is the only question that you must answer without using anything about the normal distribution.
Problem 7: Is the normality assumption that was made at the beginning valid? Why or why not? Hint: Does this distribution have the properties of a normal distribution as described in the course textbook? Real data sets are never perfect; however, should this one be closed. One option would be to construct a histogram as you did in Week 2 to see if it has the right shape. Something in the range of 10-12 classes is a good number.
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