The cash balances (in thousands of dollars) at the end

| August 30, 2017

Question
HW 9: The cash balances (in thousands of dollars) at the end of each of five days for a branch of TigerBank are detailed through the data table below:

Day (t)

Mon.

Tue.

Wed.

Thu.

Fri.

Sat.

Cash balance (dt )

1,000

1,200

1,100

950

900

?

You work at TigerBank as a forecasting analyst. Assume, for simplicity, that cash balances at the end of each day are independent Normal random variables. Your salary depends on whether your prediction in the morning falls above or below the observed cash balance at the end of the day, and you have no influence on the observed cash balances (i.e., you cannot deposit or withdraw money at the branch for the purpose of making your predictions more accurate).

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