You Were Told That the Amount of Time Lapsed Between

question 50

Short Answer

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. You were also told that the probability that the time lapsed between two consecutive trades to fall between 16 to 17 seconds was 13%. 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 between 14 and 15 seconds?

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Definitions:

Independent Variable

A variable that is manipulated or changed in an experiment to see how it affects a dependent variable.

Dependent Variable

In an experiment, it is the variable that is being measured or tested and is expected to change in response to changes in independent variables.

Census Data

Comprehensive collection of information about population demographics, economic activity, and living conditions, compiled by government surveys.

Group Assignment

The process of allocating participants into different groups, such as experimental or control groups, within a study.