According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for
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According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for withdrawals is $35.
(a) Do you think the variable “ATM withdrawal” is normally distributed? If not, what shape would you expect the variable to have?
(b) If a random sample of 50 ATM withdrawals is obtained, describe the sampling distribution of x̄, the mean withdrawal amount.
(c) Determine the probability of obtaining a sample mean withdrawal amount between $70 and $75.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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a No the variable ATM withdrawal is not likely normally distributed It is likely skewed right ...View the full answer
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