Albert Abbasi,VP of Operations at Ingleside International Bank,is Evaluating the Service

question 39

Multiple Choice

Albert Abbasi,VP of Operations at Ingleside International Bank,is evaluating the service level provided to walk-in customers. Accordingly,he plans a sample of waiting times for walk-in customers. If the population of waiting times has a mean of 15 minutes and a standard deviation of 4 minutes,the probability that Albert's sample of 64 will have a mean between 13.5 and 16.5 minutes is ________.

• A) 0.9974
• B) 0.4987
• C) 0.9772
• D) 0.4772
• E) 0.5000

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Definitions:

Erroneously Charged

Incorrectly or mistakenly billed for goods or services, leading to inaccurate financial transactions.

Bank Statement Balance

The ending cash balance as recorded in the bank's records at the end of a reporting period.

Check Outstanding

A check that has been written and recorded in the issuing account but has not yet been cleared or cashed by the bank.

Bank Reconciliation

The process of comparing and adjusting the balance shown on a bank statement with the amount shown in a company’s records to ensure they match.