You Were Told That the Amount of Time Lapsed Between

question 64

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 15 and 16 seconds?

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Definitions:

Income Redistribution

A policy or mechanism aimed at transferring income from certain individuals or groups to others, often to reduce economic inequalities.

Progressive

Describes policies or ideologies favoring social reform, innovation, and gradual improvements over time, often in the context of taxation, societal change, or politics.

Regressive

Refers to policies or measures that disproportionately affect those with lower incomes, often making them bear a larger relative burden.

Proportional

A relationship between two quantities where the ratio remains constant.