Solution) For years, Frog Falls Federal Credit Union has had an ATM inside the Super Sale mart, a combination


Question: For years, Frog Falls Federal Credit Union has had an ATM inside the Super Sale mart, a combination discount department store and supermarket; indeed, the device has been at this location so long that the financial institution’s management knows that the total amount of funds dispersed daily averages $3200 with a standard deviation of $625, and is normally distributed. The ATM is programmed to alert both Frog Falls Federal management and Super Sale Mart management whenever an exceptionally high amount of money is withdrawn daily. The device is programmed to make this alert at a level so unusually high it should only randomly happen twice every 1000 days. What is the monetary threshold that triggers the alerts? Explain and/or justify your answer, using an approach other than guess-and-check.

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Answer: The solution consists of 1 page
Deliverables: Word Document

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