Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi, in this question: -A bank has determined that the monthly balances of the saving accounts of its customers are normally distributed with an average
Hi, in this question:
-A bank has determined that the monthly balances of the saving accounts of its customers are normally distributed with an average balance of $1,200 and standard deviation of 250. If a sample of 36 customers is selected, a. What is the probability that the average monthly balances are between $1,255 and $1,275? b. What is the probability that the total balance of the saving accounts for the 36 customers is less than $41,000?-
Why is the answer to B: -b. If total is $41000 ,then = 0.5 0.4292 = 0.0708-
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started