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b. What percentage of the Visa cards issued by this bank have a balance of $735 or more? Round your answer to two decimal places. P =

b. What percentage of the Visa cards issued by this bank have a balance of $735 or more? Round your answer to two decimal places. P =

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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The Bank of Connecticut issues Visa and MasterCard credit cards. It is estimated that the balances on all Visa credit cards issued by the Bank of Connecticut have a mean of $835 and a standard deviation of $280. Assume that the balances on all these Visa cards follow a normal distribution. a. What is the probability that a randomly selected Visa card issued by this bank has a balance between $1000 and $1410? Round your answer to three decimal places. P = b. What percentage of the Visa cards issued by this bank have a balance of $735 or more? 0.256 Round your answer to two decimal places. P = i %
Transcribed Image Text:The Bank of Connecticut issues Visa and MasterCard credit cards. It is estimated that the balances on all Visa credit cards issued by the Bank of Connecticut have a mean of $835 and a standard deviation of $280. Assume that the balances on all these Visa cards follow a normal distribution. a. What is the probability that a randomly selected Visa card issued by this bank has a balance between $1000 and $1410? Round your answer to three decimal places. P = b. What percentage of the Visa cards issued by this bank have a balance of $735 or more? 0.256 Round your answer to two decimal places. P = i %
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