Question

According to Moebs Services Inc., an individual checking account at U.S. community banks costs these banks between $175 and $200 per year (Time, November 21, 2011). Suppose that the average annual cost of all such checking accounts at U.S. community banks is $190 with a standard deviation of $20. Find the probability that the average annual cost of a random sample of 100 such checking accounts at U.S. community banks is
a. Less than $187
b. More than $193.5
c. $191.70 to 194.5


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  • CreatedAugust 25, 2015
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