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:

Financial Statement

A written record that conveys the financial activities and conditions of a business or individual.

Normal Balance

The side (debit or credit) of an account that increases its value, reflecting the conventional balance based on accounting rules.

Financial Statements

Documents that give an overview of a business's financial condition in both short and long term, including but not limited to, income statements, balance sheets, and statements of cash flows.

Worksheet

A worksheet is often a piece of paper or a digital document used by accountants to prepare adjustments and end-of-period financial statements.