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Get Full Access to Statistics: Informed Decisions Using Data - 5 Edition - Chapter 8.1 - Problem 30
Get Full Access to Statistics: Informed Decisions Using Data - 5 Edition - Chapter 8.1 - Problem 30

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# ?ATM Withdrawals According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for withdrawals is$35. (a) Do

ISBN: 9780134133539 240

## Solution for problem 30 Chapter 8.1

Statistics: Informed Decisions Using Data | 5th Edition

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Problem 30

ATM Withdrawals According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for withdrawals is$35.

(a) Do you think the variable “ATM withdrawal” is normally distributed? If not, what shape would you expect the variable to have?

(b) If a random sample of 50 ATM withdrawals is obtained, describe the sampling distribution of , the mean withdrawal amount.

(c) Determine the probability of obtaining a sample mean withdrawal amount between $70 and$75.

Step-by-Step Solution:

Step 1 of 5) ATM Withdrawals According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for withdrawals is$35. (a) Do you think the variable “ATM withdrawal” is normally distributed If not, what shape would you expect the variable to have (b) If a random sample of 50 ATM withdrawals is obtained, describe the sampling distribution of, the mean withdrawal amount. (c) Determine the probability of obtaining a sample mean withdrawal amount between $70 and$75.

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?ATM Withdrawals According to Crown ATM Network, the mean ATM withdrawal is $67. Assume that the standard deviation for withdrawals is$35. (a) Do