Assuming that the change in daily closing prices for stocks on the New York Stock Exchange is a random variable that is normally distributed with a mean of $0.35 and a standard deviation of $0.33. Based on this information, what is the probability that a randomly selected stock will be lower by $0.40 or more?
A. 2.27
B. 0.4884
C. 0.0116
D. 0.9884
Answer:C
Assuming that the change in daily closing prices for stocks on the New York Stock Exchange is a random variable that is normally distributed with a mean of $0.35 and a standard deviation of $0.33. Based on this information, what is the probability that a randomly selected stock will be lower by $0.40 or more?
A. 2.27 B. 0.4884 C. 0.0116 D. 0.9884