Re: Probability question that stumped me completely - reward
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{expected value X N} + {stddev x sqrt(N) x inverse of the standard normal cumulative distribution (Y) = 1.5
N = 100
expected value = 0
stddev = 1
Solve for Y, which I believe is .56
I think this is correct if I understand your problem correctly. I need to run out for a few hours so I dont have time to double check. I will check when I get back unless someone else verifies or discredits before I can double check.
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Ah. I misread the problem as I thought it was a cumulative total of 1.5. However, I believe the formula above would still work if you set it to 150 instead of 1.5. I would appreciate it if someone more versed in statistics than me could verify.
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