document.write( "Question 1198087: 5) The average stock price for companies making up the S&P 500 is $30, and the stan-
\n" ); document.write( "dard deviation is $8.20 (BusinessWeek, Special Annual Issue, Spring 2003). Assume
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\n" ); document.write( "the stock prices are normally distributed.
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Algebra.Com's Answer #831633 by ewatrrr(24785)\"\" \"About 
You can put this solution on YOUR website!
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document.write( "Hi\r\n" );
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document.write( "µ = $30 and σ = $8.20  Continuous curve \r\n" );
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document.write( "Using TI or similarly an inexpensive calculator like an Casio fx-115 ES plus\r\n" );
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document.write( "P(x ≥ 40) = normcdf(40,9999,8.2,30) = .1113\r\n" );
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document.write( "P(x < 20) =  P(x ≤ 20) = normcdf(-9999,20,8.2,30) = .1113\r\n" );
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document.write( "c) Top 10%, Invnorm(.90) = 1.282\r\n" );
document.write( "x = 1.282*8.20 + 30 = 40.5\r\n" );
document.write( "How high does a stock price have to be to put a company in the top 10%?\r\n" );
document.write( " Greater than $40.50\r\n" );
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document.write( "Important You feel comfortable Using Your calculator.\r\n" );
document.write( "Wish You the Best in your Studies.\r\n" );
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