The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
Expert Solution
Given
mean = 760
s = 120
n = 1000
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