Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi! I'm wondering which distribution I should utilize for the situation below. or should I use percentiles? Thank you! In order to minimize the occurrence

Hi! I'm wondering which distribution I should utilize for the situation below. or should I use percentiles? Thank you!

image text in transcribed
In order to minimize the occurrence of money laundering, certain nancial companies are required to conduct small background checks on their customers before accepting money from them. under the so-called Anti Money Laundering (AML) laws. When a customer makes a payment to an organization operating under AML laws, the money is transferred to the organization but suspended for a brief holding period while a background check is conducted on the customer. Typically, nancial companies outsource the background check process to a third- party AML provider. 3. Say an AML provider claims that their background checks typically require a holding period of no more than 5 days. If this is true. what percentage of their background checks will be completed within 3 days? (regardless of background check's outcome)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

WebAssign For Applied Calculus For The Life And Social Sciences, Enhanced Edition

Authors: Ron Larson

1st Edition

1337768197, 9781337768191

More Books

Students also viewed these Mathematics questions

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago

Question

1. What is the meaning of the information we are collecting?

Answered: 1 week ago

Question

3. How much information do we need to collect?

Answered: 1 week ago