The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
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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The credit card balances on 1,000 accounts at the Jefferson Valley Bank have a mean of $760 and a standard deviation of $120. The distribution is approximately bell-shaped. Approximately what z-score corresponds to a balance of $350 and is this an unusually low balance (outlier)?
Expert Solution
Given
mean = 760
s = 120
n = 1000
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