A commodity trader believes that average volume of wheat he traded can be descri

A commodity trader believes
that average volume of wheat he traded can be described by a Normal model with
a mean of 32000 metric tons and standard deviation of 2500 metric tons.a) If a client buys some
bushels of his wheat would it be reasonable for the client to hope that the
transactions will reach 40000 metric tons? Explain. b) Approximately what fraction
of the transactions can be expected to reach less than 30000 metric tons? c) Approximately what fraction
of these trades can be expected to reach between 30000 and 35000 metric tons?
d) Estimate the IQR of the
trade volumes. e) In planning an investment
strategy the commodity trader wants to offer an opt-out guaranty (or an option
to cancel a trade) to anycustomer whose transaction
volumes failed to deliver an agreed volume of transaction compared to the
mean. However he does not want to take too big a risk. If he is willing to
give transaction refunds to no more than 1 of every 25 customers for what
volume level of transactions can he offer an opt-out guaranty?