Question: The daily exchange rates for the five year period 2008 to

The daily exchange rates for the five-year period 2008 to 2013 between the euro (EUR) and the British pound (GBP) can be modeled by a Normal distribution with mean 1.19 euros (to pounds) and standard deviation 0.043 euros. Given this model, what is the probability that on a randomly selected day during this period, the pound was worth
a) Less than 1.19 euros?
b) More than 1.233 euros?
c) Less than 1.104 euros?
d) Which would be more unusual, a day on which the pound was worth less than 1.126 euros or more than 1.298 euros?

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  • CreatedMay 14, 2015
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