Question

A bank has an average balance of $495 and a standard deviation of $102, in its checking accounts. What is the probability that 36 randomly selected accounts have an average balance greater than $500?

Answer 1

Explanation:

We are going to assume that this data is distributed based on the normal distribution.

Mean (population)= μ= $495

Standard deviation= σ= $102

n= 36

x bar= 500.