Hi there, I\'ve been having difficulty with some question relative to statistics

Question

Hi there,

I've been having difficulty with some question relative to statistics. I've made numerous attempts to solve such questions using excel.

Could someone please post up the solutions based on excel. Hand written solutions will be of little to no use to me as I am required to compute such calculations using excel.

The daily exchange rates for the two-year period 2011 to 2013 between the Japanese Yen (JPY) and the Australian Dollar (AUD) can be modeled by a Normal distribution with mean , = 80 Yen and a standard deviation, -20 Yen Draw diagrams and use Excel to help you solve the following problems. 1. What is the probability that on a randomly selected day during this period, the dollar was worth less than 97 Yen? (4 dp) 2. What proportion of the days during this period will the dollar be worth between 64 and 97 Yen? (4 dp) 3. If you select a window of 175 days during this period, how many days would you expect the dollar to worth between 64 and 97 Yen? (round to nearest integer)

Explanation / Answer

Let X be the variable indicating the exchange rate-

1) P(X<97)

=NORM.DIST(97,80,20,1)

= 0.8023

This is the function to be used in excel where X=97 , m=80 and s=20

2) P(64<X<97) = P(X<97)-P(X<64)

P(X<97) = NORM.DIST(97,80,20,1) = 0.8023

P(X<64) = NORM.DIST(64,80,20,1) = 0.2118

P(64<X<97) = 0.8023-0.2118 =0.5905

3) 59.05*175/100 = 103.33 = 104

We expect 104 days during which the dollar can be between 64 and 97

Let me know if you need anything else, if not please don't forget to like the answer :)

Mean, m 80 SD, s 20

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