Financial traders on the stock exchange earn most of their income from commissions. At Trades Inc.,...
Financial traders on the stock exchange earn most of their income from commissions. At Trades Inc., the commission earned by their individual traders per year follow a Normal distribution with mean $175,000 and standard deviation $25,000. Using Excel, what is the precise probability that a trader will earn MORE THAN $160,000? (Rounded to four decimal places.)
Homework Answers
Solution :
Using Excel ,
P(X > 160000)
= 1 - NORM.DIST(160000,175000,25000,TRUE) [Excel formula]
= 0.2743
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