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:

Zone of Indifference

A concept referring to the range in which subordinates will accept and follow orders without resistance, based on their perception of the legitimacy of the command.

Enlarging

The process of increasing the scope, duties, or responsibilities of a job to provide greater variety and challenge.

Authority

The legitimate power or right to give orders, make decisions, and enforce obedience in a specific context or organization.

Power

The ability to influence another person.