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Describe the Primary Advantage and Disadvantage of a Limit Sell

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Essay

Describe the primary advantage and disadvantage of a limit sell order.


Definitions:

Tchebysheff's Theorem

A statistical theorem that specifies the minimum proportion of observations within a certain number of standard deviations from the mean for any distribution shape.

Empirical Rule

A statistical theorem stating that in the case of a normal distribution, almost entirely all the data will be situated within three standard deviations away from the average.

Population Mean

The average or central value of a set of numbers or measurements in the entire population under study.

Sample Mean

The average value of a sample set of numbers, which serves as an estimate of the population mean.

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