Answer: the probability of a student being overdrawn by more than $18.75 is 0.674
Step-by-step explanation:
Since the bank overdrafts of ASU student accounts are normally distributed, we would apply the formula for normal distribution which is expressed as
z = (x - µ)/σ
Where
x = bank overdraft of Asu students.
µ = mean
σ = standard deviation
From the information given,
µ = $21.22
σ = $5.49
We want to find the probability of a student being overdrawn by more than $18.75. It is expressed as
P(x > 18.75) = 1 - P(x ≤ 18.75)
For x = 18.75,
z = (18.75 - 21.22)/5.49 = - 0.45
Looking at the normal distribution table, the probability corresponding to the z score is 0.326
Therefore,
P(x > 18.75) = 1 - 0.326 = 0.674
