Under the system of floating exchange rates , the rate of foreign money to the U.S. dollar is affected by many random factors, & this leads to the assumption of a normal distribution of small daily fluctuations.
The rate of U.S. dollar per Euro is believed in a certain period to have a mean of 1.19 & a standard deviation of 0.03.
Find
(a) The probability that tomorrows rate will be above 1.25.
(b) The probability that tomorrows rate will be below 1.15.
(c) The probability that tomorrows exchange rate will be between 1.16 & 1.23.