Math Problem Statement

Suppose a normally distributed set of stock prices with 3700 observations has a mean of 180 and a standard deviation of 12 use the 68 95 97 rule to determine the number of observations in the data set expected to be between the values 168 and 204

Solution

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Math Problem Analysis

Mathematical Concepts

Statistics
Normal Distribution
Empirical Rule

Formulas

Percentage of observations within a range = (Relevant % from Empirical Rule) × Total Observations
1σ below mean = μ - σ
2σ above mean = μ + 2σ

Theorems

Empirical Rule (68-95-99.7 Rule)

Suitable Grade Level

Grades 10-12