Question

A bank has kept records of the checking balances of customers and determined that the average daily balance of the $200 with a standart devit of $4 A accounts in selected. (Round your answers to four decimal places)

(a) What is the peshabity that the sample mean will be more than $295.20 ?

Answer 1

To find the probability that the sample mean will be more than $295.20, use the z-score formula.

Step-by-step explanation:

To find the probability that the sample mean will be more than $295.20, we can use the z-score formula. The formula is:

z = (x - μ) / (σ / sqrt(n))

Where:

• z is the z-score
• x is the value we want to find the probability for
• μ is the population mean
• σ is the population standard deviation
• n is the sample size

In this case, x = $295.20, μ = $200, σ = $4, and n = A (unknown sample size). We need to find the z-score for x = $295.20 and then find the probability of getting a z-score greater than that. The probability can be found using a z-table or a calculator.