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:

Growth And Development

The process of physical and psychological change and expansion over the life span of an organism.

Evolutionary History

The chronological narrative of the changes and developments that have occurred in species or organisms over generations, leading to their current states.

Datum

A piece of factual information used as a basis for reasoning, discussion, or calculation.

Grid

A network of intersecting parallel lines, whether imaginary or physical, used for navigation, reference, or as a structural feature in design and planning.