The mean number of shares traded on on the New York stock Exchange in June 2004 was 2.4 Billion per day. Assume that the distribution of shares...

The mean number of shares traded on on the New York stock Exchange in June 2004 was 2.4 Billion per day. Assume that the distribution of shares traded is normal with µ = 2.4 (in billions) and σ = 0.6 (in billions). a. Find the probability that the number of shares traded on a randomly selected day falls below 0.6 billion.b. What percentage of days finds a volume of shares traded of more than 2.5 billion?c. What proportion of days finds the volume of shares traded between 1 billion and 2 billion?d. A slow day trading day has fewer shares traded than 99% of all other days. Find the number of shares traded that represents this amount?Is this unusual? Explain answer.

Solution 1Here probability will be calculated by using the standard normal distribution. First we willconvert the values given in the question to the standard normal distribution. The formula...