Mathematics, 28.10.2020 23:50 jjoyner

12. Assume the credit card balances of younger college educated employed persons are normally distributed with a mean of $ 6,358 and a standard deviation of $1,907 – assume these are population values. 12a. What is the probability of a randomly selected credit card holder has a credit card balance less than $5750? Use the standard normal table for this, using the population mean and standard deviation.
12b. Now you randomly select 81 credit card holders. What is the probability that their mean credit card balance is less than $5750? Use the standard normal table for this, but this time use the population mean and standard error (standard deviation/SQRT(81)).

Answers: 3

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 18:00, leysirivera23ovez6n

The price of an item has been reduced by 30%. the original price was $30. what is the price of the item now ?

Answers: 1

continue

Mathematics, 21.06.2019 19:00, alyo31500

Graph g(x)=2cosx . use 3.14 for π . use the sine tool to graph the function. graph the function by plotting two points. the first point must be on the midline and closest to the origin. the second point must be a maximum or minimum value on the graph closest to the first point.

Answers: 1

continue

Mathematics, 21.06.2019 20:30, bryce59

Suppose you just purchased a digital music player and have put 8 tracks on it. after listening to them you decide that you like 4 of the songs. with the random feature on your player, each of the 8 songs is played once in random order. find the probability that among the first two songs played (a) you like both of them. would this be unusual? (b) you like neither of them. (c) you like exactly one of them. (d) redo () if a song can be replayed before all 8 songs are played.

Answers: 2

continue

Mathematics, 21.06.2019 22:40, btaylor1179

Awoman has 14 different shirts: 10 white shirts and 4 red shirts. if she randomly chooses 2 shirts to take with her on vacation, then what is the probability that she will choose two white shirts? show your answer in fraction and percent, round to the nearest whole percent.

Answers: 3

continue

You know the right answer?

12. Assume the credit card balances of younger college educated employed persons are normally distri...