You Were Told That the Amount of Time Lapsed Between

question 137

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 13 and 16 seconds?

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Definitions:

Bond Indenture

A bond indenture is a legal contract specifying the terms and conditions under which a bond is issued, including interest rate, maturity date, and issuer obligations.

Trade Accounts Payable

Liabilities owed by a business to its suppliers or creditors for inventory or services received that are yet to be paid for.

Accounts Payable

Money owed by a business to its suppliers or creditors for goods and services received.

Potential Lawsuit

A legal challenge or claim that has not yet been filed but has the possibility to be brought forward because of existing disputes.