question archive a) The average annual percentage rate (APR) for credit cards held by US consumers is approximately 15% ("Ouch - Credit Card APR Now Tops 15 Percent,” Time, January 3, 2012)
a) The average annual percentage rate (APR) for credit cards held by US consumers is approximately 15% ("Ouch - Credit Card APR Now Tops 15 Percent,” Time, January 3, 2012)
Subject:StatisticsPrice:2.87 Bought7
a) The average annual percentage rate (APR) for credit cards held by US consumers is approximately 15% ("Ouch - Credit Card APR Now Tops 15 Percent,” Time, January 3, 2012). Suppose the APR for new credit card offers is normally distributed with a mean of 15% and a standard deviation of 4%. What APR must a credit card charge to be in the top 10% of all cards? Provide your answer as a percentage and round it to 4 decimal places.
b) According to Nielsen, men account for 53% of tablet owners. A random sample of 70 tablet owners was selected. Suppose you want to approximate the probability that 35 people from this sample were men using the normal distribution. What is the value of the standard deviation you would use for the normal distribution in this approximation? Round your answer to 4 decimal places.
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