Solve the following problem:
Q: The daily trading volumes (millions of shares) for stocks traded on the New York Stock Exchange for twelve days in a certain period are given below.
Assume that the probability distribution of trading volumes is approximately normal.
1. Compute mean and standard deviation for daily trading volumes to use as estimates of the population mean and standard deviation.
2. What is the probability that on a particular day the trading volume will be less than 800 million shares?
3. What is the probability that on a particular day the trading volume will exceed 1 billion shares?
4. If the exchange wants to issue a press release on the top 5% of trading days, what volume will trigger a press release?
| 917 |
983 |
1046 |
944 |
723 |
783 |
813 |
1057 |
766 |
836 |
992 |
973 |