SOLUTION: Suppose that the value of a stock varies each day from $8.82 to $33.17 with a uniform distribution. Find the third quartile, i.e., 75% of all days the stock is below what value? Ro

Question 1161971: Suppose that the value of a stock varies each day from $8.82 to $33.17 with a uniform distribution. Find the third quartile, i.e., 75% of all days the stock is below what value? Round your answer to the nearest cent.

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
the range is 33.17-8.82=24.3; the 0th percentile is 8.82 and the 100th percentile is 33.17 (dollars)
three quarters of that difference is 18.26
so the 75th percentile is 3/4 of the way from 8.82 to 33.17 or 8.82+18.26=$27.08

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