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:

Economic

Pertains to the production, distribution, and consumption of goods and services, and the management of resources.

Psychographic Differences

Variations in consumers' lifestyle, values, and personality traits that affect buying behaviors and can be used for market segmentation.

Multicultural Marketing

Marketing strategies specifically designed to appeal to a variety of cultural groups within a society.

Value Consciousness

The degree to which consumers are focused on obtaining good value for their money when purchasing products or services.