You Were Told That the Amount of Time Lapsed Between

question 117

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 middle 86% of the time lapsed will fall between which two numbers?

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Definitions:

Niche Marketing

A targeted marketing strategy focusing on a specific segment of the market, tailor-made to satisfy the unique needs and preferences of that segment.

Marketing Mix

A set of controllable marketing variables comprising product, price, place, and promotion that a firm uses to pursue its marketing objectives in the target market.

Cognitive Dissonance

The state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.

Post-purchase Stress

The anxiety or concern felt by consumers after making a purchase, typically due to doubts about the decision or the product's performance.