The Visa credit card company has determined that the amount its customers spend per transaction is normally distributed with an average of RS5800 per month and a standard deviation of R900. what percentage of customers spend between RS4867 and RS5568 per month

Respuesta :

Answer:24.82%

Explanation:

Let x be a random variable representing the amount the customers spend per transaction. Since the amount is normally distributed, we would calculate the z score by applying the formula,

z = (x - μ)/σ

where

x is the sample mean

μ is the population mean

σ is the population standard deviation

From the information given,

μ = 5800

σ = 900

We want to calculate P(4867 ≤ x ≤ 5568)

For x = 4867,

z = (4867 - 5800)/900 = - 1.04

From the normal distribution table, the probability value corresponding to a z score of

- 1.04 is 0.1492

For x = 5568,

z = (5568- 5800)/900 = - 0.26

From the normal distribution table, the probability value corresponding to a z score of

- 0.26 is 0.3974

Thus,

P(4867 ≤ x ≤ 5568) = 0.3974 - 0.1492 = 0.2482

We would convert to percentage by multiplying by 100

P(4867 ≤ x ≤ 5568) = 0.2482 x 100 = 24.82%

The percentage of customers spend between RS4867 and RS5568 per month ​is 24.82%