Frank's bank charges a variable finance rate of 1.5 percent on purchases up to $100, and one percent for purchases over $100. If
1 answer:
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Using the Empirical Rule, it is found that:
- a) Approximately 99.7% of the amounts are between $35.26 and $51.88.
- b) Approximately 95% of the amounts are between $38.03 and $49.11.
- c) Approximately 68% of the amounts fall between $40.73 and $46.27.
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The Empirical Rule states that, in a <em>bell-shaped </em>distribution:
- Approximately 68% of the measures are within 1 standard deviation of the mean.
- Approximately 95% of the measures are within 2 standard deviations of the mean.
- Approximately 99.7% of the measures are within 3 standard deviations of the mean.
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Item a:
Within <em>3 standard deviations of the mean</em>, thus, approximately 99.7%.
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Item b:
Within 2<em> standard deviations of the mean</em>, thus, approximately 95%.
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Item c:
- 68% is within 1 standard deviation of the mean, so:
Approximately 68% of the amounts fall between $40.73 and $46.27.
A similar problem is given at brainly.com/question/15967965
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