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A bank knows from experience that the total amount of cash withdrawn daily from an ATM machine located in Greenwich Village is normally distributed with
A bank knows from experience that the total amount of cash withdrawn daily from an ATM machine located in Greenwich Village is normally distributed with a mean of $12,000 with a standard deviation of $600. How much money should the bank stock in the ATM machine at the start of the day so that the probability of it not running out of money to dispense in that day is 1%? (i.e. how much money should be stocked in the ATM so that the probability that the total amount withdrawn that day being less than that value is 99%)
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