The NYSE has an average stock price of 31.62 with a standard deviation of 12.18. The stock prices also follow a normal distribution. What is the probability that a company will have a stock price of at least $32.00?
I got .4876
However, my answer was marked as wrong.
I got .4876
However, my answer was marked as wrong.
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32 - 31.62 = 0.38
0.38/12.18 = 0.031 standard deviations.
+0.03 has Z value of 0.5120
+0.04 has Z value of 0.5160
Interpolate for 0.031 to get 0.5124
Subtract from 1 to get 0.4876.
Oh, that's what you got too!
I get exactly the same answer as you.
0.38/12.18 = 0.031 standard deviations.
+0.03 has Z value of 0.5120
+0.04 has Z value of 0.5160
Interpolate for 0.031 to get 0.5124
Subtract from 1 to get 0.4876.
Oh, that's what you got too!
I get exactly the same answer as you.