statistic
posted by Nancy .
The distribution of cash withdrawals from the automatic teller machine at a
certain bank has a mean of $500 with a standard deviation of $70. To reduce the
incentives for robbery, the bank puts money into the machine every 12 hours and
it keeps the amount deposited fairly close to the expected total withdrawals for a
12hour period. If 100 withdrawals were expected in each 12hour period and
each withdrawal was independent, how much should the bank put into the
machine so that the probability of running out of money was 0.05?
Respond to this Question
Similar Questions

MathValue of Mean
A brewery has a beer dispensing machine that dispenses beer into the company's 12 ounce bottles. The distribution for the amount of beer dispensed by the machine follows a normal distribution with a standard deviation of 0.13 ounce. … 
English
1. The new automatic teller machine did not function as expected. 2. The new auto teller machine did not function as expected. 3. The new automated teller machine did not function as expected. (Which expression is grammatical? 
statistics
You want to determine if your widgets from machine 1 are the same as machine 2. Machine 1 has a sample mean of 5 and a population standard deviation 1 and a sample size of 4. Machine 2 has a sample mean of 8 and a population standard … 
statistic
To learn more about the size of withdrawals at a banking machine, the proprietor took a sample of 75 withdrawals and recorded the amounts. Determine the mean and standard deviation of these data, and describe what these two Statistics … 
statistic solution
The distribution of cash withdrawals from the automatic teller machine at a certain bank has a mean of $500 with a standard deviation of $70. To reduce the incentives for robbery, the bank puts money into the machine every 12 hours … 
Statistics
The amount of soda a dispensing machine pours into a 12 ounce can of soda follows a normal distribution with a standard deviation of 0.12 ounces. Every can that has more than 12.30 ounces of soda poured into it causes a spill and the … 
Quantitative Techniques
Q No. A company is seriously considering buying one type of machine that can save significant labor hours. The labor hour saved by the machine follows a normal distribution with mean = 2200 and a certain standard deviation. It is known … 
STAT
You want to determine if your widgets from machine 1 are the same as machine 2. Machine 1 has a sample mean of 15 and a sample standard deviation 6 and a sample size of 18. Machine 2 has a sample mean of 12 and a sample standard deviation … 
STAT
You want to determine if your widgets from machine 1 are the same as machine 2. Machine 1 has a sample mean of 5 and a population standard deviation 2 and a sample size of 4. Machine 2 has a sample mean of 10 and a population standard … 
Law
1. Of the following scenarios, which one would be classified as robbery?