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## Statistics

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

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