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santhoshprince93 / Assignment-Set4-Q_3

Auditors at a small community bank randomly sample 100 withdrawal transactions made during the week at an ATM machine located near the bank’s main branch. Over the past 2 years, the average withdrawal amount has been $50 with a standard deviation of $40. Since audit investigations are typically expensive, the auditors decide to not initiate further investigations if the mean transaction amount of the sample is between $45 and $55. What is the probability that in any given week, there will be an investigation? A. 1.25% B. 2.5% C. 10.55% D. 21.1% E. 50%

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Assignment-Set4-Q_3

  1. Auditors at a small community bank randomly sample 100 withdrawal transactions made during the week at an ATM machine located near the bank’s main branch. Over the past 2 years, the average withdrawal amount has been $50 with a standard deviation of $40. Since audit investigations are typically expensive, the auditors decide to not initiate further investigations if the mean transaction amount of the sample is between $45 and $55. What is the probability that in any given week, there will be an investigation?

A. 1.25% B. 2.5% C. 10.55% D. 21.1% E. 50% Ans: D. 21.1%

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Auditors at a small community bank randomly sample 100 withdrawal transactions made during the week at an ATM machine located near the bank’s main branch. Over the past 2 years, the average withdrawal amount has been $50 with a standard deviation of $40. Since audit investigations are typically expensive, the auditors decide to not initiate further investigations if the mean transaction amount of the sample is between $45 and $55. What is the probability that in any given week, there will be an investigation? A. 1.25% B. 2.5% C. 10.55% D. 21.1% E. 50%

pythonzscore-normalizationzscoreprobabilityscipystatsintervalcdf

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