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:

Interrelated Parts

Components or elements that are connected in such a way that changes in one can affect the others.

Tabula Rasa

A theory asserting that individuals are born without built-in mental content, and that all knowledge comes from experience or perception.

Blank Slate

The theory that individuals are born without built-in mental content and that all knowledge comes from experience or perception.

Human Knowledge

The accumulated factual information, understanding, and skills that humans acquire through experience, education, and learning.