A Company Is Studying the Number of Daily Debit Card

question 43

Essay

A company is studying the number of daily debit card purchases. There were 20 purchases and the probability of a debit card purchase is 0.5. Based on the shape of the distribution, approximately 99.7% of the purchases should be between _______ and ________.

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Definitions:

Agency Relationship

A legal bond in which one person, the agent, acts on behalf of another, the principal, in transactions with third parties.

Principal

In finance, the original amount of money invested or loaned, before interest.

Agent

An individual or entity authorized to act on behalf of another person or entity, known as the principal, in various transactions or negotiations.

Fiduciaries

Individuals or organizations entrusted to manage assets or decisions for another party, often with a legal obligation to act in the latter's best interest.