The daily exchange rates for the? five-year period 2003 to 2008between currency A and currency B are well modeled by a normaldistribution with mean 1.814 in currency A? (to currency? B) andstandard deviation 0.035 in currency A. Given this? model, andusing the? 68-95-99.7 rule to approximate the probabilities ratherthan using technology to find the values more? precisely, completeparts? (a) through? (d).
Question: ?a) What would the cutoff rate be that would separatethe highest 2.5?% of currency? A/currency B? rates? The cutoff ratewould be ___________ (type an integer or a decimal rounded to thenearest thousandth as needed)
Question: What would the cutoff rate be that would separate thehighest 50% ? The cutoff rate would be _______________
Question: What would the cutoff rate be that would separate themiddle 68% ? The lower cutoff rate would be ____________
Question: The upper cutoff rate would be ?____________________
Question: What would the cutoff rate be that would separate thehighest 16%? ________________
