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In: Statistics and Probability

The Bank of Connecticut issues Visa and MasterCard credit cards. It is estimated that the balances...

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 $845 and a standard deviation
of $270. 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 $1440?
b. What percentage of the Visa cards issued by this bank have a balance of $730 or more?

Solutions

Expert Solution

a. What is the probability that a randomly selected Visa card issued by this bank has a balance
between $1000 and $1440?


b. What percentage of the Visa cards issued by this bank have a balance of $730 or more?

orchestra answered 2 years ago
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