Business, 20.03.2022 14:00 applejulianamoreno

U. S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790. Assume that the average amount spent on a debit card is normally distributed with a standard deviation of $500. Required:
A consumer advocate comments that the majority of consumers spend over $8,000 on a debit card. Find a flaw in this statement. (Round your final answer to 4 decimal places.)

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U. S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks....

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