Question

Assume that a UAE bank found that the average monthly checking balance of its customers is...

  1. Assume that a UAE bank found that the average monthly checking balance of its customers is 10000 AED with a standard deviation of 4500 AED. A random sample of 12 accounts is selected.
    a. What is the probability that the average checking balance will be more than 13000 AED?
    b. What is the probability that the monthly balance will be less than 4000?

    c. Assume that this bank offers a special credit card to one percent of its customers with the highest checking balance. What is the minimum amount a customer should have to be eligible for that credit card?

Math   Statistics-And-Probability   
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Answer #1

a UAE bank found that monthly checking balance of its customers has

and

n= 12

a)  the probability that the average checking balance will be more than 13000 AED =

b) the probability that the monthly balance will be less than 4000 =

c) Let A be the the minimum amount a customer should have to be eligible for that credit card

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