A bank charges a monthly fee if the average monthly balance of your account is less than $5000. The table shows the balance of y
2 answers:
Answer:
No, we don't have to pay the fee after the fourth month.
Step-by-step explanation:
It is given that a bank charges a monthly fee if the average monthly balance of your account is less than $5000.
The table shows the balance of your account the first four months it is open.
Month 1 : $4801.50
Month 2 : $5198.42
Month 3 : $5254.36
Month 4 : $4932.87
Formula for average:
where, n is the number of observation.
The average of four months balance is
Since the average balance of 4 months is more than 5000, therefore we don't have to pay the fee after the fourth month.
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