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 Probability and Statistics
 Probability of exceeding a specific value
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grosu
New Member

Israel
1 Posts

Posted - 09/18/2007 :  07:37:21  Show Profile
Hi,

I need to know the probability of exceeding a specific value when the change in the value is distributed normally.
For example, suppose a toy car costs initially 10$. Now, the value of the car changes with normal distribution, i.e. with zero mean and variance of one.
I need to know how to calculate the probability of the car costs over 13$. Moreover, how to calculate the time estimation for this to happen (I guess the time scale is derived from the rate of change in the value)?

Can anyone help?
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tkhunny
Advanced Member

USA
1001 Posts

Posted - 09/18/2007 :  17:06:42  Show Profile
How is your z-score working?

(13-10)/1 = 3

How much of that continuous Normal probability resides farther out than 3 standard deviations?
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