Author Question: The distribution of bankcard balances for customers is highly right-skewed with a mean of 1,100 and ... (Read 126 times)

gonzo233 · **on:** Jun 24, 2018

The distribution of bankcard balances for customers is highly right-skewed with a mean of 1,100 and a standard deviation equal to 250.

Based on this information, approximately 68 percent of the customers will have bank balances between 850 and 1,350. Indicate whether the statement is true or false

Question 2

The Varden Packaging Company has a contract to fill 50 gallon barrels with gasoline for use by the U.S. Army. The machine that Varden uses has an adjustable device that allows the average fill per barrel to be adjusted as desired.

However, the actual distribution of fill volume from the machine is known to be normally distributed with a standard deviation equal to 0.5 gallons. The contract that Varden has with the military calls for no more than 2 percent of all barrels to contain less than 49.2 gallons of gasoline. In order to meet this requirement, Varden should set the mean fill to approximately 49.92 gallons. Indicate whether the statement is true or false