Easy probability question help?

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In summary, the conversation is discussing the trading volumes for stocks on the NYSE, with the assumption that the probability distribution is approximately normal. The question is asked about the probability of trading volumes being less than 800 million shares on a particular day, the probability of volumes exceeding 1 billion shares on a particular day, and what volume would trigger a press release for the top 5% of trading days. The answer lies in understanding the sampling distribution and the central limit theorem.
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Shekster
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Easy probability question help??

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Above are the trading volumes (millions of shares) for stocks traded on the NYSE during a certain period.
Assume that the probability distribution of the trading volumes is approximately normal.

2.2 What is the probability that on a particular day the trading volume will be less than 800 million shares?

2.3 What is the probability that on a particular day the trading volume will exceed 1 billion shares?

2.4 If the exchange wants to issue a press release on the top 5% of trading days, what volume will trigger a press release??

This is not homework i am trying to explain this to my brother and don't know how too, answers with working out would be required.
 
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With the context you gave, this just seems like an issue with the sampling distribution

of the mean, which follows from the central limit theorem. Look up those terms and let

us know of any followup question. The sampling distribution is just that; a distribution

which allows us to determine the probabilities of events.
 

1. What is probability?

Probability is a measure of the likelihood that an event will occur. It is typically expressed as a number between 0 and 1, where 0 represents impossibility and 1 represents certainty. In other words, 0% probability means the event will definitely not happen, while 100% probability means the event will definitely happen.

2. How do you calculate probability?

To calculate probability, you need to know the number of favorable outcomes and the total number of possible outcomes. The probability is then calculated by dividing the number of favorable outcomes by the total number of possible outcomes. For example, if you roll a die and want to know the probability of getting a 4, the answer would be 1/6, since there is only one favorable outcome (getting a 4) out of six possible outcomes (rolling a 1, 2, 3, 4, 5, or 6).

3. What is the difference between theoretical and experimental probability?

Theoretical probability is based on mathematical calculations and assumes that all outcomes are equally likely. It is used to predict the likelihood of an event occurring. Experimental probability, on the other hand, is based on actual observations and data. It is calculated by conducting experiments and recording the outcomes. It is used to estimate the likelihood of an event based on real-world data.

4. Can probability be greater than 1 or less than 0?

No, probability cannot be greater than 1 or less than 0. This is because probability represents the likelihood of an event occurring, and it cannot be more than 100% or less than 0%.

5. How is probability used in real life?

Probability is used in many different fields, including science, finance, and sports. In science, it is used to make predictions and analyze data. In finance, it is used to calculate risk and make investment decisions. In sports, it is used to determine the odds of a team winning a game. It is also used in everyday situations, such as predicting the weather or the likelihood of winning a game of chance.

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