A credit card company decides to study the frequency with which its cardholders charge for items from a certain change of retail stores. The data values collected in the study appear to be normally distributed with a mean of 25 charged purchases and a standard distribution of 2 charged purchases. Out of the total number of cardholders about hw many would you expect are charging 27 or more in the study

15.87% of the total number of cardholder would be expected to be charging 27 or more in the study.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean and standard deviation , the z-score of a measure X is given by:

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Mean of 25 charged purchases and a standard distribution of 2

This means that

Proportion above 27

1 subtracted by the pvalue of Z when X = 27. So

has a pvalue of 0.8413

1 - 0.8413 = 0.1587

Out of the total number of cardholders about how many would you expect are charging 27 or more in the study?

0.1587*100% = 15.87%

15.87% of the total number of cardholder would be expected to be charging 27 or more in the study.

step-by-step explanation:

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