Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The funds dispensed at a certain ATM follow a normal probability distribution with a mean of $7,500 per day and a standard deviation of $875

The funds dispensed at a certain ATM follow a normal probability distribution with a mean of $7,500 per day and a standard deviation of $875 per day. The machine is programmed to notify the bank if the amount is less than $6,300 or more than $8,700. If we randomly select one day this month, what is the probability that the machine will notify the bank?

Use Excel or JMP to find probabilities and values. Do not round intermediate calculations. Round your final answer to four decimals. Use number format 0.0000 Do not use probability tables to find probabilities.

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

Step: 3

blur-text-image

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

Complex Analysis

Authors: Joseph Bak, Donald J Newman

3rd Edition

1441972889, 9781441972880

More Books

Students also viewed these Mathematics questions

Question

The number of people commenting on the statement

Answered: 1 week ago

Question

Peoples understanding of what is being said

Answered: 1 week ago