credit card company monitors cardholder transaction habits to detect any unusual activity. suppose that the dollar value of unusual activity for a customer in a month follows a normal distribution with a mean $250 and variance $409. what is the probability of more than $309 in unusual activity in a month?

credit card company monitors cardholder transaction habits to detect any unusual activity. suppose that the dollar value of unusual activity for a customer in a month follows a normal distribution with a mean $250 and variance $409. what is the probability of more than $309 in unusual activity in a month?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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Question

a credit card company monitors cardholder transaction habits to detect any unusual activity. suppose that the dollar value of unusual activity for a customer in a month follows a normal distribution with a mean $250 and variance $409. what is the probability of more than $309 in unusual activity in a month?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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