document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=296594>Question 296594</A>: <I><SPAN STYLE=\"word-break: break-all;\"> For the 900 trading days from January 2003 through July 2006, the daily closing price of IBM stock (in$) is well modeled by a Normal model with mean $85.60 and standard deviation $6.20. According to this model, what is the probability that on a randomly selected day in this period the stock price closed above $91.80? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #213680 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=213680\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> For the 900 trading days from January 2003 through July 2006, the daily closing price of IBM stock (in$) is well modeled by a Normal model with mean $85.60 and standard deviation $6.20. According to this model, what is the probability that on a randomly selected day in this period the stock price closed above $91.80?<BR>\n" );
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document.write( "z(91.80) = (91.80-85.60)/6.2 = 1<BR>\n" );
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document.write( "P(x > 91.80) = P(z > 1) = 0.1587<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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