Marketing Case Study

STAT 200: QUIZ #2: Due 11/29/15: Name: ______________________________ Please show all work and keep your work neat. I will encourage you to use hand writing, not typing, scan it, and upload it in Leo. No late work will be accepted in any form. Each problem is worth 10 points. 1. A local bank has 5276 accounts cross-classified by type of account and average account balance. The summarized results are (in dollars): ACCOUNT CHECKING SAVINGS NEW MONEY MKT. TOTAL BALLANCE ACCOUNT ACCOUNTACCOUNTACCOUNT¬¬¬¬¬¬¬__________ < 500 803 21 90 1934 500 – 1000 640 452 112 >1000 51 538 116 1364 TOTAL 2236 5276 a. Complete the missing parts of the contingency table and answer the questions below. b. What is the probability that an account does not have over $1000 in it and the account is not a money-market account? c. What is the probability that a new account’s balance is between $500 and $1000? d. Given that an account is not a savings account, what is the probability that the account has $1000 or less? Use also this and the next page for answering this question.