The daily exchange rates for the five-year period 2003 to 2008 between currency A and currency...

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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 1.773 in currency A (to currency B) and standard deviation 0.032 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 1.773 units of currency A? The probability is %. (Type an integer or a decimal.) b) What is the probability that on a randomly selected day during this period, a unit of currency B was worth more than 1.869 units of currency A? The probability is %. (Type an integer or a decimal.) c) What is the probability that on a randomly selected day during this period, a unit of currency B was worth more than 1.837 units of currency A? The probability is %. (Type an integer or a decimal.) d) Which would be more unusual, a day on which a unit of currency B was worth less than 1.717 units of currency A or more than 1.868 units of currency A? More than 1.868 is more unusual. Less than 1.717 is more unusual. 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 1.773 in currency A (to currency B) and standard deviation 0.032 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 1.773 units of currency A? The probability is %. (Type an integer or a decimal.) b) What is the probability that on a randomly selected day during this period, a unit of currency B was worth more than 1.869 units of currency A? The probability is %. (Type an integer or a decimal.) c) What is the probability that on a randomly selected day during this period, a unit of currency B was worth more than 1.837 units of currency A? The probability is %. (Type an integer or a decimal.) d) Which would be more unusual, a day on which a unit of currency B was worth less than 1.717 units of currency A or more than 1.868 units of currency A? More than 1.868 is more unusual. Less than 1.717 is more unusual.

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A probability problem We are given that the daily exchange rates for the fiveyear period 2003 to 200... View the full answer