Homework: Chapter 7 homework Score: 0 of 12 pts 7.1.28-T Save 1of 4 (0 complete)

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Homework: Chapter 7 homework Score: 0 of 12 pts 7.1.28-T Save 1of 4 (0 complete) HW Score: 0%, 0 of 50 pt EQuestion Help For 300 trading days, the daily closing price of a stock (in $) is well modeled by a Normal model with mean $197.35 and standard deviation $7.14. According to this model, what cutoff value of price would separate the a) lowest 14% of the days? b) highest 0.26%? c) middle 70%? d) highest 50%? a) Select the correct answer below and fill in the answer box(es) within your choice A. The cutoff point is(Round to two decimal places as needed) O B. The cutoff points are and (Use ascending order. Round to two decimal places as needed) click to select and enter your answers) and then cick Check Answer Check Answer parts

Explanation / Answer

a) Lowest 14% = -1.0803*7.14+197.35 = $189.64

b) Highest 0.26% =2.79*7.14+197.35 = $217.30

c) Middle 50

Lowest 50% = -0.67*7.14+197.35 = 192.53

Upper 50% = 0.67*7.14+197.35 = 202.17

d) Highest 50% = 0*7.14+197.35 = 197.35

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