(Answered) 1 the dollar amounts for loans made to earthquake victims

Management Studies

1. The dollar amounts for loans made to earthquake victims are normally distributed with a mean of $6,000 and a population standard deviation of $1,200.

2. If thirteen of these loans are randomly selected, what is the probability that the sample variance will be less than 528,000?

3. Suppose that we randomly sample 60 of these loans. What is the probability at least 53 of these will have a dollar amount of $7,333 or less?

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