Question

Because of the relatively high interest rates, most consumers attempt to pay off their credit card...

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 29 dollars and a standard deviation of 9 dollars.

A. What proportion of the bank's Visa cardholders pay more than 32 dollars in interest?

B. What proportion of the bank's Visa cardholders pay more than 38 dollars in interest?

C. What proportion of the bank's Visa cardholders pay less than 18 dollars in interest?

D. What interest payment is exceeded by only 19% of the bank's Visa cardholders?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 26 dollars and a standard deviation of 9 dollars. A. What proportion of the bank's Visa cardholders pay more than 28 dollars in interest? Proportion = B. What proportion of the...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 28 dollars and a standard deviation of 9 dollars. What interest payment is exceeded by only 20% of the bank's Visa cardholders? Interest Payment = Note: Please show work, it would...
Because of the relatively high interest rates of credit cards, most consumers attempt to pay off...
Because of the relatively high interest rates of credit cards, most consumers attempt to pay off their credit card bills promptly. When a cardholder does not pay off the full balance within the first month, the cardholder must pay interest on the amount owed. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 30 dollars and a standard deviation of 6 dollars. A. What...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank’s Visa cardholders reveals that the amount is normally distributed with a mean of $1,735 and a standard deviation of $285. What interest payment is exceeded by only 15% of the bank’s Visa cardholders? Select one: a. $2,031.40 b. $1,884.625 c. $1,438.60 d. $1,585.375
(1 point) Suppose that X is normally distributed with mean 85 and standard deviation 20 1)...
(1 point) Suppose that X is normally distributed with mean 85 and standard deviation 20 1) A. What is the probability that XX is greater than 118? B) What value of X does only the top 18% exceed? 2) Because of the relatively high-interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount...
A survey of 30 couples showed the sample mean number of meals eaten outside their home...
A survey of 30 couples showed the sample mean number of meals eaten outside their home was 1.75 meals per week, with a standard deviation of 0.55 meal per week. Construct a 95% confidence interval for the population mean number of meals eaten outside per week. Select one: a. None of the other choices b. 1.72 to 1.78 meals c. 1.58 to 1.92 meals d. 1.54 to 1.96 meals Because of the relatively high interest rates, most consumers attempt to...
The diameters of a random sample of 20 products made by a certain machine during one...
The diameters of a random sample of 20 products made by a certain machine during one month showed a mean of 0.93 inch and a sample standard deviation of 0.05 inch. Assume the population is normally distributed, find a 95% confidence intervals for the mean diameter of all the products. Select one: a. 0.9066 to 0.9534 inch b. 0.9081 to 0.9519 inch c. 0.9248 to 0.9352 inch d. 0.9107 to 0.9493 inch “Is live lecture over Zoom an effective way...
29. The sustained decline in U.S. inflation rates over the past quarter century likely reflects all...
29. The sustained decline in U.S. inflation rates over the past quarter century likely reflects all of the following, except: (a) a combination of digitalization and technological advances that reduce production costs; (b) a weak U.S. dollar in foreign exchange markets; (c) more exact production processes; (d) globalization. 30. Which of the following statements is most true? (a) money supply increases cause bank reserves to decrease; (b) the Federal Reserve creates bank reserves through open market operations; (c) the Federal...
2. A demand curve indicate a. the maximum willingness to pay for a given quantity b.the...
2. A demand curve indicate a. the maximum willingness to pay for a given quantity b.the consumer's gain from exchange c.the market price of a good or service d. the equilibrum quantity 3. trade permitts countries to a. consume more than they capable of producing b.produce based on their comparative advantage c.specialize more fully d.all of above 4. which of the following dose not impact how elastic supply is? a. whether the supply is local or global b.the share of...
MATHEMATICS 1. The measure of location which is the most likely to be influenced by extreme...
MATHEMATICS 1. The measure of location which is the most likely to be influenced by extreme values in the data set is the a. range b. median c. mode d. mean 2. If two events are independent, then a. they must be mutually exclusive b. the sum of their probabilities must be equal to one c. their intersection must be zero d. None of these alternatives is correct. any value between 0 to 1 3. Two events, A and B,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT