Question

You work at a bank and are asked to recommend the amount of cash to put in an ATM each day. You don't want to put in too much (security) or too little (customer irritation). Complete parts Click the icon to view the the daily withdrawals (in 100s of dollars) for a period of 30 days. through (c) below (a) Choose the correct relative frequency histogram for the data using eight classes below. 0.41 03 02 0.1 GA 65 70 75 80 85 90 98 99 C. 0.41 03 02 0.1 62 67 72 77 82 67 9297 E (b) If you put $8450 in the ATM each day, what percent of the days in a month should you expect to run out of cash? % (Round to the nearest tenth as needed.) (c) If you are willing to run out of cash for 10% of the days, how much cash should you put in the ATM each day? s (Round to the nearest hundred dollars as needed.)

Answer 1

0 60-64 65-69 70-74 75-79 80-84 85-89 90-94 95-09 (fi/N) 3 0.1000 5 Answer: for the given data, class frequency Relative 60-64 fi) focquency 65-69 0.0333 70-74 0.1667 0.3333 6 0.2000 85-89 2 0.0667 90-94 0.0667 95-99 0.0333 W30 Relative frequency Histogram with 8chaffes: 10 75-79 80-84 2 04 03 0-2 01

b) from the frequency distribution Plot, the frequency corresponding to the amount $8950 is a :) of days in the month that you would expect to sun ocit of Cofn if *100 6.67 y. 30 c) out of 30 days, 10% of the days if 10730 100 1 CS Scanned with Cumica

From the graph, required cash is, approximately $9600