Question

Suppose 98% of all daily transactions at a bank are processed correctly. The bank selects the...

Suppose 98% of all daily transactions at a bank are processed correctly. The bank selects the last 100 transactions at the end of the day on Friday. Describe the sampling distribution of the sample number of correctly-processed transactions out of the 100.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

my let n is total number of pansactions selected 2100 . no. of daily transaction at bank are consectly processed [x 98 srice

Add a comment
Know the answer?
Add Answer to:
Suppose 98% of all daily transactions at a bank are processed correctly. The bank selects the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Thirty-five percent of all adults read at least one newspaper daily. Suppose you select a sample...

    Thirty-five percent of all adults read at least one newspaper daily. Suppose you select a sample of 501 adults. The sample proportion is the proportion of adults in this sample who read at least one newspaper daily. The mean of the sampling distribution of this sample proportion is: Enter you answer; mean The standard deviation of the sampling distribution of this sample proportion, rounded to four decimal places, is:

  • The number of column inches of classified advertisements appearing on Mondays in a certain daily newspaper...

    The number of column inches of classified advertisements appearing on Mondays in a certain daily newspaper has mean 320 inches and standard deviation 30 inches. Suppose that the results for 100 consecutive Mondays can be regarded as a random sample and let ¯xx¯ denote the mean number of column inches of classified advertisements in the sample. Assuming a sample of 100 is sufficiently large, the random variable ¯xx¯ has a sampling distribution that is approximately Normal by the central limit...

  • Question 10 14 pts Suppose X is a random variable with mean 100 and standard deviation...

    Question 10 14 pts Suppose X is a random variable with mean 100 and standard deviation 15. Suppose that we select random samples of size n=81 to construct a sampling distribution of means. Then which of the following is NOT true? Given enough samples, the shape of the sampling distribution will be approximately normal The standard deviation of the sampling distribution is 15/9 The mean of the sampling distribution is 100 The mean of any random sample will be 100...

  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a...

    Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 57,553 Deposits 181,000 Checks processed (194,110 ) Service charges (50 ) NSF checks (1,950 ) Monthly loan payment deducted directly by bank from account (includes $370 in interest) (4,070 ) Balance, July 31, 2018 $ 38,373 The...

  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a...

    Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 58,178 Deposits 181,500 Checks processed (194,610 ) Service charges (75 ) NSF checks (2,200 ) Monthly loan payment deducted directly by bank from account (includes $320 in interest) (4,320 ) Balance, July 31, 2018 $ 38,473 The...

  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information

    Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Balance, July 1, 2021$57,803Deposits181,200Checks processed(194,310)Service charges(60)NSF checks(2,050)Monthly payment on note, deducted directly by bank from account(includes $170 in interest)(4,170)Balance, July 31, 2021$38,413 The company’s general ledger account had a balance of $41,313 at the end of July. Deposits outstanding totaled $8,000 and...

  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a...

    Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 56,928 Deposits 180,500 Checks processed (193, 610) Service charges (80) NSF checks (1,700) Monthly loan payment deducted directly by bank from account (3,820) (includes $720 in interest) Balance, July 31, 2018 $ 38,218 The company's general ledger...

  • Harrison Company maintains a checking account at the First National City Bank. The bank provides a...

    Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Balance, July 1, 2021 Deposita Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $870 in interest) Balance, July 31, 2021 $ 56,103 180.400 (193,510) (75) (1,650) (3.770) The company's general ledger account had...

  • Suppose studies suggest that 53% of pets are overweight with 25% considered obese. Consider a vet...

    Suppose studies suggest that 53% of pets are overweight with 25% considered obese. Consider a vet who sees 48 random pets in the course of a day. Step 2 of 2: Describe the sampling distribution of the sample proportion of pets who are obese if we use the pets that are seen in a 5 day week as a random sample. Be sure to include all rationales.

  • Exercise 1: Suppose we wish to assess whether more than 60% of all U.S. households in...

    Exercise 1: Suppose we wish to assess whether more than 60% of all U.S. households in a particular income class bought life insurance last year. An insurance survey is based on 100 randomly selected U.S. households in the income class and 64 bought life insurance last year. Assuming p = 0.60, 1) What the mean for the sampling distribution of proportions? 2) What is the standard deviation for the sampling distribution of proportions? 3) What is the probability of observing...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT