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The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean 1.992 in currency A (to currency B) and standard deviation 0.044 in currency A. Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely, complete parts (a) through (d). a) What is the probability that on a randomly selected day during this period, a unit of currency B was worth less than 1.992 units of currency A? The probability is%. (Type an integer or a decimal.)

The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean 1.992 in currency A (to currency B) and standard deviation 0.044 in currency A. Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely, complete parts (a) through (d). a) What is the probability that on a randomly selected day during this period, a unit of currency B was worth less than 1.992 units of currency A? The probability is%. (Type an integer or a decimal.)

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean 1.992 in currency A (to currency B) and standard deviation 0.044 in currency A. Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely, complete parts (a) through (d). a) What is the probability that on a randomly selected day during this period, a unit of currency B was worth less than 1.992 units of currency A? The probability is%. (Type an integer or a decimal.)
Transcribed Image Text:The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean 1.992 in currency A (to currency B) and standard deviation 0.044 in currency A. Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely, complete parts (a) through (d). a) What is the probability that on a randomly selected day during this period, a unit of currency B was worth less than 1.992 units of currency A? The probability is%. (Type an integer or a decimal.)
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