Question

You work at a bank and are recommended the amount of cash to put in an ATM each day. You don’t want to put in too much (security) or too little (customer irritation)

Data Table:

58 98 73 60 65 80 83 97 89 76

79 74 60 67 72 69 68 80 69 84

69 73 69 74 83 76 78 62 85 73

If you put $8250 in the ATM each day, what percent of the days in a month should you expect to run of cash?

Answer 1

To answer this question, we have to see what all days, we got more than 82.5 withdrawals.

Daily Cash Withdrawn	Cash Withdrawn >82.5?
58	FALSE
98	TRUE
73	FALSE
60	FALSE
65	FALSE
80	FALSE
83	TRUE
97	TRUE
89	TRUE
76	FALSE
79	FALSE
74	FALSE
60	FALSE
67	FALSE
72	FALSE
69	FALSE
68	FALSE
80	FALSE
69	FALSE
84	TRUE
69	FALSE
73	FALSE
69	FALSE
74	FALSE
83	TRUE
76	FALSE
78	FALSE
62	FALSE
85	TRUE
73	FALSE

There are 7 days out of 30 on which cash drawn is greater than 8250.

Hence percent of days in which you would expect to run out of cash = 7/30 = 23.33% days.

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