Question

if you put 7250 in the atm each day, what percent of the days in a month should you expect to run out of cash

Answer 1

Available Question:

If you put ​$7850 in the ATM each​ day, what percent of the days in a month should you expect to run out of​ cash?

nothing​%

​ (Round to the nearest tenth as​ needed.)

Data set: (00s)

54 92 70 59 66 75 80 90 86 72

76 71 55 64 70 65 66 78 70 83

67 70 70 71 80 72 74 60 81 71

Answer:

23.3%

Explanation:

In the given set, there are only 7 days in which I will run out of cash because the withdrawal is more than $7850.

As we know that:

Probability of running out of Cash = (Relevant Event Occurrence / Total number of events)  * 100%

Here

Relevant Event Occurrence is 7 (92, 80, 90, 86, 83, 80, 81)

Total number of events are 30

By putting values, we have:

Probability of running out of Cash = 7 / 30 * 100% = 23.3%