The interest rates paid by 30 financial institutions on a certain day for money market deposit accounts are shown in the accompanying table.
Let the random variable X denote the interest rate per year paid by a randomly chosen financial institution on its money market deposit accounts.
(a) Find the probability distribution associated with these data. (Round your answers to three decimal places.)
P(X = x)
(b) Find the probability that the interest rate paid by a financial institution chosen at random is less than 2.56% per year. (Round your answer to three decimal places.)
a)dividing each frequency with n=30 :
b) probability that the interest rate paid by a financial institution chosen at random is less than 2.56% per year =(9+6+2)*100/30=0.567
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