SOLUTION: Average daily prices are expected to be $400 with a standard deviation of $6.50. What can a person expect in what range will the price be 68% of the time? 95% of the time? What

Question 1047922: Average daily prices are expected to be $400 with a standard deviation of $6.50.
What can a person expect in what range will the price be 68% of the time? 95% of the time? What does he have to assume?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
one standard deviation from the mean accounts for about 68% of the set
two standard deviations from the mean account for about 95%
and three standard deviations from the mean account for about 99.7%.
What can a person expect in what range will the price be 68% of the time
400 - 6.50 to 400 + 6.50
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What can a person expect in what range will the price be 95% of the time
400 - 13.00 to 400 +13.00
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