What\'s the answer to question 4, please check my answers, thank you. Suppose yo

Question

What's the answer to question 4, please check my answers, thank you.

Suppose you analyzed the average monthly credit card bill of Visa credit card customers using two randomly selected samples: one with 147 Visa credit card customers (Sample #1) and one with 106 Visa credit card customers (Sample #2). Every credit card customer in Sample #1 had a monthly credit card bill of $1,898. Sample #2, on the other hand, had an average monthly credit card bill of $1,824 with a variance of 1,388,200 ($)^2. If you combined these samples into one... What would be the combined monthly credit card bill average (in dollars)? 1866.996 What is the combined monthly credit card bill median (in dollars)? 1898 What is the shape of the combined monthly credit card bill distribution (in dollars)? Skewed Left What would be the combined monthly credit card bill standard deviation (in dollars)?

Explanation / Answer

2)Combined Mean = (n1x1bar + n2x2bar)/(n1+n2)

= (147*1898 + 106*1824)/(147+106) = $1866.99

3a)since for Normal distributions, mean = median; we have the combined monthly credit card bill median = 1915.5

3b)the combined monthly credit card bill distribution is
(147 x f1(x) + 106 x f2(x))/(147 + 106)

4)standred devation = 1,388,200

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