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Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 34 dollars in interest? Proportion = B. What proportion of the bank's Visa cardholders pay more than 40 dollars in interest? Proportion = C. What proportion of the bank's Visa cardholders pay less than 19 dollars in interest? Proportion = D. What interest payment is exceeded by only 22% of the bank's Visa cardholders? Interest Payment =

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 34 dollars in interest? Proportion = B. What proportion of the bank's Visa cardholders pay more than 40 dollars in interest? Proportion = C. What proportion of the bank's Visa cardholders pay less than 19 dollars in interest? Proportion = D. What interest payment is exceeded by only 22% of the bank's Visa cardholders? Interest Payment =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 34 dollars in interest? Proportion = B. What proportion of the bank's Visa cardholders pay more than 40 dollars in interest? Proportion %3D C. What proportion of the bank's Visa cardholders pay less than 19 dollars in interest? Proportion %3D D. What interest payment is exceeded by only 22% of the bank's Visa cardholders? Interest Payment
Transcribed Image Text:Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 34 dollars in interest? Proportion = B. What proportion of the bank's Visa cardholders pay more than 40 dollars in interest? Proportion %3D C. What proportion of the bank's Visa cardholders pay less than 19 dollars in interest? Proportion %3D D. What interest payment is exceeded by only 22% of the bank's Visa cardholders? Interest Payment
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