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The Italian National Bank is reviewing its current account service charges and interest payment procedures. The average daily balance is normally distributed, with a mean
The Italian National Bank is reviewing its current account service charges and interest payment procedures. The average daily balance is normally distributed, with a mean of 625 and a standard deviation of 125, according to the bank. 1. What percentage of current users have over 810 in their accounts? 2. What percentage of current users have between 600 and 750 in their accounts? 3. Customers with daily balances in excess of a certain amount may be eligible for bank interest offer. What is the minimum daily balance that the bank should consider in order to pay interest to consumers, keeping in mind that no more than 6% of customers can gain from this offer? The Italian National Bank is reviewing its current account service charges and interest payment procedures. The average daily balance is normally distributed, with a mean of 625 and a standard deviation of 125, according to the bank. 1. What percentage of current users have over 810 in their accounts? 2. What percentage of current users have between 600 and 750 in their accounts? 3. Customers with daily balances in excess of a certain amount may be eligible for bank interest offer. What is the minimum daily balance that the bank should consider in order to pay interest to consumers, keeping in mind that no more than 6% of customers can gain from this offer
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