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    				| 1. | Monthly expenditure on their credit cards, by credit card holders from a certain bank, follows a normal distribution with a mean of Rs. 1,295.00 and a standard deviation of Rs. 750.00. What proportion of credit card holders spend more than Rs. 1,500.00 on their credit cards per month?(a) 0.487(b) 0.394 (c) 0.500 (d) 0.791 | 
| Answer» (b) 0.394 µ = 1295, σ = 750 P(X > 1500) = P(Z > (1500 - 1295)/750) = P (Z > 0.27) = 0.5 – P (0 < Z < 0.27) = 0.5 – 0.1064 = 0.3936 ~ 0.394 | |