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The average credit card debt for college seniors is $3262. If the debt is normally distributed...
The average credit card debt for college seniors is $3120. The debt is normally distributed with...
The average credit card debt for college seniors is $3120. The debt is normally distributed with standard deviation of $1100. Find P35.
MUST use the NORM.DIST() or NORM.INVO) Normal Distribution functions in Excel. Provide your final answer rounded...
MUST use the NORM.DIST() or NORM.INVO) Normal Distribution functions in Excel. Provide your final answer rounded to 4 decimal places in the yellow highlight cell. Problem (i): The average credit card debt for college seniors is $3262. The debt has a normal distribution with a standard deviation of $1100. (4 points) a) What is the probability that a randomly selected college senior owes more than $4000? b) What is the probability that a randomly selected college senior owes between $4000...
Problem 1: The credit card debt for college seniors has a normal distribution with a mean...
Problem 1: The credit card debt for college seniors has a normal distribution with a mean of $3262 and a standard deviation of $1100. Consider credit card debt of a random sample of 16 college seniors. What is the distribution of mean credit card debt of 16 sampled college seniors? Provide name, mean and standard deviation of the distribution. Problem 2: The following figure shows the distribution of a population. 0.10 0.0 0.06 0.04 0.02 0.00 (a) What is the...
2. It has been reported that the average credit card debt for college series is $...
2. It has been reported that the average credit card debt for college series is $ 3260. The student serate at a large university feels that their, their seniors have a debt. much less than this : So it conducts a study of 47 randomly selected seniors and finds that therardoint sample has an average debt of $ 2995, with a headpoby deviation of $1100. Is the student Schinto correct Use a 001 (Murst State Ho, Ho, the Rejection Region,...
A bank auditor claims that credit card balances are normally distributed with mean $3000 and standard...
A bank auditor claims that credit card balances are normally distributed with mean $3000 and standard deviation $500. Suppose the auditor randomly select two card holders What is the probability both of them have card balances more than 2500?
A credit card company has found that its average balance per customer is normally distributed with...
A credit card company has found that its average balance per customer is normally distributed with a mean of $250 and a variance of 2500. a. Find the probability that the balance is over $300 b. Find the probability that the balance is less than $150 c. Find the value such that the probability of a customer’s balance being less than this amount is 0.05 d. Determine the values of a and b such that P(a...
According to a lending institution, students graduating from college have an average credit card debt of...
According to a lending institution, students graduating from college have an average credit card debt of $4100. A random sample of 40 graduating seniors was selected, and their average credit card debt was found to be $4428. Assume the standard deviation for student credit card debt is $1,300. Using alphaαequals=0.01, complete parts a through c. a) Does this sample provide enough evidence to challenge the findings by the lending institution? Determine the null and alternative hypotheses. Upper H 0H0: muμ...
High school seniors' SAT scores are normally distributed with μ = 1050 and σ = 100
2.) High school seniors' SAT scores are normally distributed with μ = 1050 and σ = 100. If a student is selected at random, find the probability that her SAT score is: a.) above 1200 b.) below 890 c.) between 1000 and 1100 d.) What SAT score separates the smartest 4% of students? e). If 18 seniors are selected, find the probability that their mean SAT score is above 1150 3.) A survey of 200 college students revealed that 160 of them eat dessert...
Assume the credit card balances of younger college educated employed persons are normally distributed with a...
Assume the credit card balances of younger college educated employed persons are normally distributed with a mean of $ 6,358 and a standard deviation of $1,907 – assume these are population values. 2. Now you randomly select 81 credit card holders. What is the probability that their mean credit card balance is less than $5750? Use the standard normal table for this, but this time use the population mean and standard error (standard deviation/SQRT(81)). Use 4 significant decimal places for...
The mean college loan debt for a 22 year old recent college graduate is approximately normally...
The mean college loan debt for a 22 year old recent college graduate is approximately normally distributed with a mean debt of $37,000 and a standard deviation of $3000. What is the probability that a 22 year old recent college graduate selected at random will have: ( round all final answers to the nearest tenthousandth). a) A college loan debt less than $30000 b) A college loan debt greater that $42000 c) A college loan debt between $25000 and $45000...
MUST use the NORM.DIST() or NORM.INVO) Normal Distribution functions in Excel. Provide your final answer rounded to 4 decimal places in the yellow highlight cell. Problem (i): The average credit card debt for college seniors is $3262. The debt has a normal distribution with a standard deviation of $1100. (4 points) a) What is the probability that a randomly selected college senior owes more than $4000? b) What is the probability that a randomly selected college senior owes between $4000...
Problem 1: The credit card debt for college seniors has a normal distribution with a mean of $3262 and a standard deviation of $1100. Consider credit card debt of a random sample of 16 college seniors. What is the distribution of mean credit card debt of 16 sampled college seniors? Provide name, mean and standard deviation of the distribution. Problem 2: The following figure shows the distribution of a population. 0.10 0.0 0.06 0.04 0.02 0.00 (a) What is the...
2. It has been reported that the average credit card debt for college series is $ 3260. The student serate at a large university feels that their, their seniors have a debt. much less than this : So it conducts a study of 47 randomly selected seniors and finds that therardoint sample has an average debt of $ 2995, with a headpoby deviation of $1100. Is the student Schinto correct Use a 001 (Murst State Ho, Ho, the Rejection Region,...
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