The Globe Fishery Packs Shrimp That Weigh More Than 1

question 60

Short Answer

The Globe Fishery packs shrimp that weigh more than 1.91 ounces each in packages marked" large" and shrimp that weigh less than 0.47 ounces each into packages marked "small"; the remainder are packed in "medium" size packages. If a day's catch showed that 19.77 percent of the shrimp were large and 6.06 percent were small, determine the mean and the standard deviation for the shrimp weights. Assume that the shrimps' weights are normally distributed.

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Definitions:

Risk-free Rate

The return on an investment with zero risk, indicating the interest an investor would expect from an absolutely risk-free investment over a specified period.

Dividend Yield

The dividend per share divided by the price per share, indicating how much cash flow you are getting for each dollar invested in an equity position.

Futures Price

The set price at which an asset will be bought or sold in the future as per the terms of a futures contract.

Arbitrage Profits

Profits earned with no risk by simultaneously buying and selling the same asset in different markets to exploit price discrepancies.