U S Consumers Are Increasingly Viewing Debit Cards As A Convenient Substitute For Cash And Checks The Amount Spent Ann 1 (36.97 KiB) Viewed 84 times
U S Consumers Are Increasingly Viewing Debit Cards As A Convenient Substitute For Cash And Checks The Amount Spent Ann 2 (16.7 KiB) Viewed 84 times
U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The amount spent annually on a debit card is $7,010. Assume that the amount spent on a debit card is normally distributed with a standard deviation of $500. [You may find it useful to reference the z table.] a. A consumer advocate comments that the majority of consumers spend over $8,000 on a debit card. Find a flaw in this statement. (Round your final answer to 4 decimal places.) The proportion of consumers who spend over $8,000 b. Compute the 25th percentile of the amount spent on a debit card. (Round your final answer to 2 decimal places.) 25th percentile c. Compute the 75th percentile of the amount spent on a debit card. (Round your final answer to 2 decimal places.) 75th percentile
d. What is the interquartile range of this distribution? (Round your final answer to 2 decimal places.) Interquartile range
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!