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Rudik [331]
2 years ago
11

Please give the right answer and show work if possible

Mathematics
2 answers:
Katen [24]2 years ago
6 0

Answer: yes

Step-by-step explanation: yes

defon2 years ago
4 0

Answer:

jo

Step-by-step explanation:

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The percentage of the bank's customers carry daily balances between $700 and $1,000 is 65.7%.

The minimum daily balance on which it should be willing to pay interest is $1,198.

Step-by-step explanation:

We have a normal distribution with mean = $800 and standard deviation = $150.

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z_1=\frac{x-\mu}{\sigma} =\frac{700-800}{150}= \frac{-100}{150} =-0.67\\\\\\z_2=\frac{1,000-800}{150}=\frac{200}{150}=1.33\\\\\\P(700

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b) We must calculate from what amount only 6% of the accounts remain.

This is done by solving:

P(z>x)=0.06

This happens for a z-value of z=2.652.

This corresponds to a amount of $1,198.

x=\mu+z*\sigma=800+2.652*150=800+398=1,198

The minimum daily balance on which it should be willing to pay interest is $1,198.

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