A Major Credit Card Company Has Determined That Its Customers

question 124

Short Answer

A major credit card company has determined that its customers charge an average of $280 per month on their accounts with a standard deviation of $20.
a.What percentage of the customers charges more than $275 per month?
b.What percentage of the customers charges less than $243 per month?
c.What percentage of the customers charges between $241 and $301.60 per month?

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Definitions:

Skeptical

Characterized by an attitude of questioning or doubt, especially regarding claims accepted by others as true.

Confirmation Bias

The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.

Rationalist

One who claims that most human knowledge comes through reason.

Memories

The faculty by which the mind stores and remembers information, or the recollections themselves.