Question
Credit card company has determined that its customers charge an average of $280 per month on their accounts with a standard deviation of $20. a.
Credit card company has determined that its customers charge an average of $280 per month on their accounts with a standard deviation of $20.
a. What percentage of the customers charges more than $275 per month? | |
b. What percentage of the customers charges less than $243 per month? | |
c. What percentage of the customers charges between $241 and $301.60 per month? d. What do the mean and standard deviation represent to this card company? Briefly discuss your results. Remember to also draw/sketch and shade the regions under the normal distribution curves. |
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