A report shows that the distribution of daily deposits (in billions of dollars) of large banks and savings institutions is a positively skewed distribution and not a normal distribution.

It has an average of $349.13 billion daily deposits and a standard deviation of $254.98 billion.

a) Explain why a skewed model makes sense here.

b) Explain why you cannot use a Normal model to determine the probability that an amount of deposit randomly selected from these large banks and savings institutions is over $300 billion.

c) Each large bank or savings institution has a minimum of 10 deposits per day. Can you determine the probability that the average deposit at a large bank or savings institution is over $300 billion? Explain.

d) Seven select large banks or savings institutions have a minimum of 10 deposits per day. What is the standard deviation of the mean deposit for the 70 deposits?

e) Would you be surprised if the mean deposit of the 70 deposits is more than $450 billion? Use the 68–95–99.7 Rule.