Probability that on a randomly selected day


The daily exchange rates for the 5 year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean1.266 in currency A (to currency B) and standard deviation 0.013 in currency A. Given this model, and using the 68-95-99.7 rule:

What is the probability that on a randomly selected day during this period a unit of currency B was worth less than 1.227 units of currency A? (in percentage)

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Basic Statistics: Probability that on a randomly selected day
Reference No:- TGS0847815

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