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aliviadushane
08.04.2020 •
Mathematics
Among all monthly bills from a certain credit card company, the mean amount billed was $485 and the standard deviation was $300. In addition, for 15% of the bills, the amount billed was greater than $1000. A sample of 900 bills is drawn. What is the probability that the average amount billed on the sample bills is greater than $500? What is the probability that more than 150 of the sampled bills are for amounts greater than $1000
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Ответ:
Step-by-step explanation:
a.
Let X be the amount paid by a certain credit card service.
From the details supplied, the X-bar is $485, the standard deviation is $300 and n=900.
By the central limit theorem when the sample size is high, the sample mean fits the normal distribution with the mean μ and the standard deviation function
So the likelihood that the total sum paid on the sample bills is greater than $500 is seen.
= 1 - 0.93319 { From excel function =NORM.DIST(1.5,0,1,TRUE)
= 0.0668
Thus, the probability that the average amount billed on the sample bills is greater than $500 is 0.0668.
Ответ: