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Unformatted text preview: around the mean)? Problem 6.7 page 181 In October 2005 the average Australian credit-card account balance was $2,604, according to data extracted from the Reserve Bank of Australia. Assuming that these balances are approximately normal with a mean of $2,604 and a standard deviation of $1,500: (a) Find the probability that an account balance is less than $2,500. (b) Find the probability that an account balance is more than $5,000. (c) What proportion of account balances are between $3,000 and $4,000? (d) 99% of account balances are less than what amount?...
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This note was uploaded on 04/05/2010 for the course BUSINESS 11 taught by Professor 11 during the Spring '10 term at University of Hawaii, Manoa.
- Spring '10