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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