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.What is the probability that the sample mean will be more than $306.60? 0.049 1 0.55 0.88 AnswerSample: n= Mean= SD= Probability[P(X>)]= z= Probability[P(Z)]= Graph

Given: Population mean μ=300Standard deviation σ=48Sample size n = 144To calculate:…

Answered: A bank has kept records of the checking…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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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.

What is the probability that the sample mean will be more than $306.60?

0.049

1

0.55

0.88

Answer

Sample:

n=

Mean=

SD=

Probability[P(X>)]=

z=

Probability[P(Z)]=

Graph

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