1.29 Question Help he daily exchange rates for the five-year period 2003 to 2008

Question

1.29 Question Help he daily exchange rates for the five-year period 2003 to 2008 between currency A and currency B are well modeled by a normal distribution with mean 1.321 in urrency A (to currency B) and standard deviation 0.013 in currency A Given this model, and using the 68-95-99.7 rule to approximate the probabilities rather than using echnology to find the values more precisely, complete parts (a) through (d) a) What would the cutoff rate be that would separate the lowest 16% of currency Acurrency B rates? The cutoff rate would be (Type an integer or a decimal rounded to the nearest thousandth as needed)

Explanation / Answer

here as we know from epirical rule that lowest 16% will fall at 1 std deviation below mean

henec the cutoff rates would be =1.321-0.013=1.308

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