You Were Told That the Amount of Time Lapsed Between

question 162

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%. The probability is 80% that the time lapsed will be longer than how many seconds?

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Definitions:

Morphemes

The smallest units of sound that carry a meaning in language. They are distinct from phonemes, which can alter meaning but have no meaning by themselves.

Syntax

The patterns or rules by which words are arranged into phrases and sentences.

Instinct

An innate, typically fixed pattern of behavior in animals in response to certain stimuli.

Imitation

The action of using someone or something as a model and attempting to replicate their behavior, characteristics, or techniques.