Answered: Find the proportion of customers who…

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

A banker finds that the number of times people use automated-teller machines (ATMs) in a year are normally distributed with a mean of 40.0 and a standard deviation of 11.3 (based on data from Maritz Marketing Research, Inc.).

Find the proportion of customers who use ATMs less than times 55. Use four decimal places for your answer.

A banker finds that the number of times people use automated-teller machines (ATMs) in a year are normally distributed with a mean of 40.0 and a standard deviation of 11.0 (based on data from Maritz Marketing Research, Inc.).

Find the proportion of customers who use ATMs between 20 and 60 times. Use four decimal places for your answer.

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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