Question

(b) If you put $9050 in the ATM each day, what percent of the days in a month should

you expect to run out of cash?

Answer 1

Answer:

23.33%

Step-by-step explanation:

The computation of the percentage of days in a month for running out of cash is shown below:

Percentage of running out of Cash is

= (Relevant Occurrence  of an event ÷  Total number of events) × 100%

where,

The Relevant occurrence of an event is 7 (105,94,101,98,94,96,92)

And, the total number of events is 30 i.e. 30 days

So, the percentage is

= 7 ÷ 30 × 100

= 23.33%