During March 2024 and October 2024, consumer spending on cre…
During March 2024 and October 2024, consumer spending on credit cards increased to an average of $930 per month, with a standard deviation of $110 per month. Assume the data presented conform to a normal distribution. Use the normal distribution table available here: Z_table modified srp fall 17.pdf Provide probability answers to 4 decimal places. (1) What is the probability that a consumer charged more than $930 per month during this one year time period? (2) What is the probability that a consumer charged less than $600 per month? (3) What is the probability that a consumer charged more than $1,000 per month? (4) What is the probability that a consumer charged between $800 and $900 per month? (5) A customer is considered for a “Gold Card” and an extended line of credit if s/he is in the upper 3% of credit card users (in dollars $) for a typical month. What is the minimum credit card balance a customer would have to charge in a typical month to be qualified for a “Gold Card”? $