Suppose 145 banks were randomly surveyed nationwide, and the average amount of bounced check fee was $30 with a standard deviation of $7.
a. According to the empirical rule, what percentages of these funds are expected to be within ± 1 standard deviation of the mean?
b. What is the maximum amount charged by the bank for the bounced check fee?
c. 95% of bank charges between what amount for bounced check fee?
d. What number of banks (approximate) charge less than $16 for bounced check fees?
e. What percentage of banks charge more than $37? What number of banks (approximate) charge more than $37?