The distribution of credit card balances for customers is highly skewed to the right with a mean of $1,200 and a standard deviation of $150. Based on this information, approximately 68% of the customers will have credit card balances between $1,050 and $1,350.

Question

Quizplus · Accepted Answer

The rule that approximately 68% of data falls within one standard deviation of the mean (the empirical rule) applies to normally distributed data. A highly skewed distribution does not follow this rule, so the statement is incorrect for a distribution that is highly skewed to the right.

The Distribution of Credit Card Balances for Customers Is Highly