A Bank Has Kept Records of the Checking Balances of Its

question 130

Short Answer

A bank has kept records of the checking balances of its customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48. A random sample of 144 checking accounts is selected.
a.What is the probability that the sample mean will be more than $306.60?
b.What is the probability that the sample mean will be less than $308?
c.What is the probability that the sample mean will be between $302 and $308?
d.What is the probability that the sample mean will be at least $296?

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Definitions:

Student Nonviolent Coordinating Committee

An important organization in the American civil rights movement of the 1960s, focusing on direct action and voter registration drives, especially in the South.

Congress of Racial Equality

An African-American civil rights organization in the United States that played a pivotal role in the struggle against segregation and discrimination in the 1940s through the 1960s.

James Meredith

An American civil rights activist, the first African American student to integrate the University of Mississippi in 1962, amid widespread rioting and opposition.