You were told that the amount of time lapsed between consecutive trades on the New York Stock Exchange followed a normal distrib
ution with a mean of 15 seconds. The probability that the time lapsed between two consecutive trades would fall below 13 seconds was 7%. What is the probability that the time lapsed between two consecutive trades will be longer than 17 seconds?
Given that that (X) the amount of time lapsed between consecutive trades on the New York Stock Exchange followed a normal distribution with a mean of 15 seconds.
i.e. X is normal with mean = 15 and unknown std deviation