Determining mean of money withdrawn from atms

Reference no: EM1312217

Q1) ATMs should be stocked with sufficient cash to convince customers making withdrawals over the entire weekend. But if too much cash is kept needlessly in ATMs, bank is forgoing opportunity of investing the money and earning interest. Assume that at particular branch, population mean amount of money withdrawn from ATMs per customer per transaction over weekend is $160, with the population standard deviation of= $30.

If random sample of thirty six customer transactions points out that sample mean withdrawal amount is $172, is there evidence to think that population mean withdrawal amount is no longer $160? (Use a 0.05 level of significance.)

Here are the number :62, 115, 198, 247, 252, 300, 480

1) Determine the mean of data above?

2) Determine the median of the data above?

3) Determine the range of the data above?

4) Determine the standard deviation?

5) Why is there no mode for this data?

Reference no: EM1312217

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