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The Webster National Bank is reviewing its service charge and interest-paying policies on checking accounts. The bank has found that the average daily balance on personal checking accounts is $550, with a standard deviation of $150. In addition, the average daily balances have been found to be normally distributed (Gaussian).
(a) What percentage of personal checking account customers carry average daily balances in excess of $800?(b) What percentage of the bank's customers carries average daily balances below of $200?(c) What percentage of the bank's customers carries average daily balances between $300 and $700?(d) The bank is considering paying interest to customers carrying average daily balances in excess of a certain amount. If the bank does not want to pay interest to more than 5% of its customers, what is the minimum average daily balance it should be willing to pay interest on?
Determine the standard score for the value x=452 realative to its sample, where the sample mean is 500 and the standard deviation is 32.
Four are slow songs, and six are fast songs. Each song is to be played only once. In how many ways can the disc jockey play the 10 songs if. The songs can be played in any order.
The process of using sample statistics to draw conclusion about the true population parameters is called:
Normal distribution what percentage of students will make A's and what percentage will make B;s in the exam. Suppose standard cut-off for (A>=90) and B (80
A pollster calls 500 randomly selected people and all 500 respond to her first question. Because the subjects agreed to respond, is the sample a voluntary response sample?
The NY Dept of Motor Vehicles (DMV) designs its license plates with space for 7 letters or numerals. In the most recent iteration, the DMV uses three letters followed by 4 numbers.
Based on a study of heights of men and women who do gymnastics, a researcher concludes that the exercise from playing gymnastics causes people to become shorter. Do you agree with this conclusion?
Using the information provided, determine the optimal number of clerks to have on duty each Satyrday to minimize the store's total expected cost.
Analyze the above alternatives with utility function U(x) = 0.0085x - 6.725(ln(x)), where x is total/net wealth: If Nancy has $5,600, which alternative he should choose among A, B or C?
A manufacturer wishes to estimate the proportion of washing machines leaving the factory that is defective. How large a sample should she check in order to be 93 percent confident that the true proportion is estimated to within 0.014?
Determine whether the evidence is enough to reject the salesperson's claim. Establish the Null and alternative hypothesis, and choose the right test statistics.
Is there evidence that population mean amount is different form 8.17 ounces? (Use a 0.05 level of significance.) with sample standard deviation of 0.051 ounce.
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