Question: Is there any help for a question involving sample means and probability A bank has kept records of the checking balances of its 4000 customers
Is there any help for a question involving sample means and probability
A bank has kept records of the checking balances of its 4000 customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48. A random sample of 144 checking accounts is selected. Please answer the following questions.
(a) What is the probability that the sample mean will be more than $309?
(b) What is the probability that the sample mean will be between $293 and $307?
(c) Suppose the number of customers decreases from 4000 to 2000. What is the probability that the sample mean will be between $296 and $305?
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