- Question 2 20 Marks Mary Is A University Research Analyst Who Spends Time Doing Analysis In Price Change Of Stocks In 1 (527.83 KiB) Viewed 62 times
Question 2 (20 marks) Mary is a university research analyst who spends time doing analysis in price change of stocks in finance industry and utility industry every day. Suppose the time she spends on analyzing stocks in finance industry follows a normal distribution with mean 30 minutes and standard deviation 10 minutes, while the time she spends on analyzing stocks in utility industry follows a normal distribution with mean 55 minutes and standard deviation 6 minutes. It is reasonable to assume that the time she spends on analyzing stocks in finance industry and the time she spends on analyzing stocks in utility are independent. (a) What is the probability that she finishes the two analyses within 1.5 hours? (b) There is 12% chance that she would use more than M minutes to finish the two analyses. What is the value of M? (c) Today, she finished her finance industry stocks analysis in 45 minutes. What is the probability that today she spends more time to analyze stocks in utility industry than to analyze stocks in finance industry? (d) The computer system of the university will be upgraded next month. It is expected that all kind of analysis would be done faster with 20% reduction in time. Is she more likely / no change in probability I less likely to finish the two analyses within 1.5 hours after the system upgrade? (Answer: more likely / no change in probability / less likely) (In part (d): Select the suitable answer, no need to do calculation)