note: please make sure to properly format your answers. all dollar figures in the answers need to include…

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($1,234.56). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06)\njill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. she wants to switch to a different account with a fee of $0.20 per check and a $12.50 monthly maintenance fee. jill wants to estimate the fees for her new account. below is a summary of the checks she has written from may to august.\n| month | number of checks on statement |\n| ---- | ---- |\n| may | 14 |\n| june | 19 |\n| july | 23 |\n| august | 24 |\na. what is the mean number of checks jill wrote per month during the last four months?\nb. based on the mean, estimate how much jill expects to pay in per - check fees each month after she switches to the new account.\nc. estimate the total monthly fees jill will pay each month for the new checking account.

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($1,234.56). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06)\njill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. she wants to switch to a different account with a fee of $0.20 per check and a $12.50 monthly maintenance fee. jill wants to estimate the fees for her new account. below is a summary of the checks she has written from may to august.\n| month | number of checks on statement |\n| ---- | ---- |\n| may | 14 |\n| june | 19 |\n| july | 23 |\n| august | 24 |\na. what is the mean number of checks jill wrote per month during the last four months?\nb. based on the mean, estimate how much jill expects to pay in per - check fees each month after she switches to the new account.\nc. estimate the total monthly fees jill will pay each month for the new checking account.

Answer

Explanation:

Step1: Calculate the sum of checks

$14 + 19+23 + 24=80$

Step2: Calculate the mean number of checks per month

The number of months is 4. Mean = $\frac{80}{4}=20$

Step3: Calculate per - check fees

The per - check fee is $0.20. So the per - check fees per month based on the mean is $0.20\times20 = 4$

Step4: Calculate total monthly fees

The monthly maintenance fee is $12.50. Total monthly fees = per - check fees+monthly maintenance fee = $4 + 12.50=16.50$

Answer:

a. 20 b. $4.00 c. $16.50