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The Distribution of Bankcard Balances for Customers Is Highly Right-Skewed

question 108

True/False

The distribution of bankcard balances for customers is highly right-skewed with a mean of $1,100 and a standard deviation equal to $250. Based on this information, approximately 68 percent of the customers will have bank balances between $850 and $1,350.


Definitions:

Percent

A unit of measure used to express a ratio as a fraction of 100.

Real Estate Salesperson

A licensed individual who is authorized to conduct real estate transactions on behalf of sellers or buyers.

Dollar Volume

The total value of a particular financial transaction or set of transactions measured in dollars.

Piece Rate

A payment method based on the amount of work completed or units produced, rather than on the amount of time spent on the work.

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