User Account

All Pages

Determine the percentage of households that have credit card

Assignment Help Basic Statistics
Reference no: EM131652051

Question: According to the Federal Reserve Board, the average credit card debt per U.S. household was $8,565 in 2008. Assume that the distribution of credit card debt per household has a normal distribution with a standard deviation of $3,000.

a. Determine the percentage of households that have a credit card debt of more than $13,000.

b. One household has a credit card debt that is at the 95th percentile. Determine its credit card debt.

c. If four households were selected at random, determine the probability that at least half of them would have credit card debt of more than $13,000.

Reference no: EM131652051

Questions Cloud

Discuss the sample that may decrease external validity : What is the sample. Are there any issues you see with the sample that may decrease external validity
Determine the proportion of plywood sheet : Use Excel to determine the proportion of plywood sheets that will meet quality specifications (0.747 to 0.753), given how the current process is performing.
Estimated monthly demand function for avocados : Given an estimated monthly demand function for avocados of Q = 104 - 40p + 20pt + 0.01Y, show how the demand curve shifts as per capita income, Y
Marketing view that known as customer life cycle refers : The new marketing view that's known as the customer life cycle refers to
Determine the percentage of households that have credit card : According to the Federal Reserve Board, the average credit card debt per U.S. household was $8,565 in 2008. Assume that the distribution of credit card debt.
What are the new present values of these securities : The interest rate falls from 10% to 5% just after you buy these securities. What are the new present values of these securities?
Discuss each given studys strengths and weaknesses : Discuss each study's strengths and weaknesses. In light of what you've found in your analyses of these studies, discuss future research needs.
Implement complex loan structures : Assignment Diploma of Finance and Mortgage Broking Management - Design a high-level performance management process for CCF & MB to be rolled out to all staff
Discuss briefly the marketing slogan : The marketing slogan will be "Why Pay for Storage Capacity that You Don't Need?" Based on the data from the study of iPod owners, what percentage of owners.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd