Posted by **Lamarr** on Saturday, October 15, 2011 at 3:03pm.

Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. In May 1995, the daily price of gold (1 troy ounce) was believed to have a mean of $383 and a standard deviation of $12. A broker, working under these assumptions, wanted to find the probability that the price of gold the next day would be between $394 and $399 per troy ounce. In this eventuality, the broker had an order from a client to sell the gold in the client's portfolio. What is the probability that the client's gold will be sold the next day?

## Answer This Question

## Related Questions

- Distribution & probabilities - Fluctuation in the prices of precious metals such...
- College Chemistry/Lab Math - I think I have this problem figured out correctly, ...
- Chemistry - Earth's oceans have an average depth of 3800 m, a total area of 3.63...
- micro economics - 1) Assume that the gold-mining industry is competitive. a) ...
- Chem - The price of gold is $625 per troy ounce at this writing. How much heat (...
- Science - One troy ounce of gold is worth $380. There are 33.8 grams per troy ...
- Physics - At the time this problem was written, the price of gold was $427 per ...
- Finance - Using Monte Carlo simulation, calculate the price of a 1-year European...
- Physics - Suppose gold bars are made such that they are cubic. If they are made ...
- Physics - Suppose gold bars are made such that they are cubic. If they are made ...

More Related Questions