Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

For borrowers with the good credit score, the mean debt for revolving and installment accounts is $15,015 (Business Week, March 20, 2006). Suppose the standard deviation is $3540 and that debt amounts are normally distributed.

a. Find out the probability that the debt for a randomly selected borrower with the good credit is more than $18,000?

b. Find out the probability that the debt for a randomly selected borrower with good credit is less than $10,000?

c. Find out the probability that the debt for a randomly selected borrower with good credit is between $12,000 and $18,000?

d. Find out the probability that the debt for a randomly selected borrower with good credit is mo more than $14,000?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M916729

Have any Question? 


Related Questions in Statistics and Probability

The weights of the fish in a certain lake are normally

The weights of the fish in a certain lake are normally distributed with a mean of 13 lb and a standard deviation of 12. If 16 fish are randomly selected, what is the probability that the mean weight will be between 10.6 ...

At a local college 316 of the male students are smokers and

At a local college, 316 of the male students are smokers and 474 are non-smokers. Of the female students, 70 are smokers and 630 are non-smokers. A male student and a female student from the college are randomly selected ...

Carter motor company claims that its new sedan the libra

Carter Motor Company claims that its new sedan, the Libra, will average better than 24 miles per gallon in the city. Use μ, the true average mileage of the Libra. Express the null hypothesis and the alternative hypothesi ...

1 explain why the byzantium empire went in a different

1. Explain why the Byzantium Empire went in a different direction from Europe (even though both were Christian) after the breakup of Rome. This will require some examination of historical and geographical influences, jus ...

For planning purposes the landfill in mountainview

For planning purposes. the landfill in Mountainview estimates the weight of plastic to b e1.7 pounds per household each week. You have noticed a lit of plastics in the garbage in your neighborhood and want to test the cl ...

A teacher wants to estimate the average pa of all teachers

A teacher wants to estimate the average pa of all teachers in a district. She wants to be 95% sure her estimate is correct. The standard deviation is $1,000, how large must her sample be to be accurate within $200? Pleas ...

One of the initial clinical trials of the anti-math anxiety

One of the initial clinical trials of the anti-math anxiety drug SHOVITALL TM tested for the presence of headaches as a side effect. In the trial, 450 subjects were treated with 80mg of the drug, and 2.2% of the subjects ...

The following electoral method is used to choose the mayor

The following electoral method is used to choose the mayor of Whoville: Every resident ranks the candidates from most preferred to least preferred, and places this ranked list in a ballot box. Each candidate receives a n ...

If the difference between two means is not statistically

If the difference between two means is not statistically significant, how certain are you that the independent variable really does not affect the dependent variable?

A sample size of 50 is selected from a normal distribution

A sample size of 50 is selected from a normal distribution having a mean of 95 and a standard deviation equal to 15. What is the probability of selecting a sample having a mean exceeding 100?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro