SOLUTION: The funds dispensed at the ATM machine located near the checkout line at the Kroger's in Union, Kentucky, follows a normal probability distribution with a mean of $4,200 per day an
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Question 912326: The funds dispensed at the ATM machine located near the checkout line at the Kroger's in Union, Kentucky, follows a normal probability distribution with a mean of $4,200 per day and a standard deviation of $720 per day. The machine is programmed to notify the nearby bank if the amount dispensed is very low (less than $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? (Round z-score computation to 2 decimal places and your final answer to 2 decimal places.
(b) What percent of the time will the bank be notified because the amount dispensed is high? (Round z-score computation to 2 decimal places and your final answer to 2 decimal places.)
(c) What percent of the time will the bank not be notified regarding the amount of funds dispersed? (Round your answers to 2 decimal places.)
You can put this solution on YOUR website! m = 4200, sd = 720
follows a normal probability distribution
a. P(x < 2500) = P(z < (2500-4200)/720) = P(z < -2.3611) = .0091
b. P(x ≤ 6000) = P(z < (6000-4200)/720) = P(z < 2.5) = .9938
c. P(z < (6000-4200)/720)- P(z < (2500-4200)/720) = .9938 - .0091
