The Distribution of Checking Account Balances for Customers at Independent

question 50

True/False

The distribution of checking account balances for customers at Independent Bank is known to be bell - shaped with a mean of $1,800 and a standard deviation of $300. Given this information, the percentage of accounts with balances between $1,500 and $2,100 will be approximately 95%.

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Definitions:

Ogive

A graphical representation that displays the cumulative frequencies or cumulative percentages of a dataset, usually in the form of a curve.

Statistics Test

A procedure used to assess the probability of a hypothesis about a data set being true or false.

Boxplot

A graphical representation of data that shows the median, quartiles, and outliers within a dataset, useful for visualizing the distribution.

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