Answered: The Visa credit card company has…

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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Question

The Visa credit card company has determined that the amount its customers spend per transaction is normally distributed with an average of R5800 per month and a standard deviation of R900. What percentage of customers spend between R5568 and R4867 per month (rounded off to two decimals)?

A. 24.82
B. 28.68
C. 45.69
D. 36.89

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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