Probability
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The funds dispensed at the atm machine located near the checkout line at the krogers in union, kentucky, follow a normal probability distribution with a mean of $4,200 a day and a standard deviation of $720 a day. The machine is programmed to notify the local bank if the amount dispensed is very low ( less an $2,500) or very high (more than $6,000).
a. What percent of the days will the bank be notified because the amount dispensed is very low.
b. What percent of the time will the bank be notified because the amount dispensed is to high.
c. What percent of the time will the bank not be notified reguarding the amount of funds dispersed.
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Solution Summary
The solution describes the determination of various probabilities using Normal distribution.
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Let X denotes the funds dispensed at the atm machine. It is given that X follow a normal probability distribution with a mean of $4,200 a day and a standard deviation of $720 a day. Then, ...
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