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For the normal distribution described in given Exercise, what is the probability that a randomly selected first mortgage would have been for an amount
a. between $239,000 and $259,000?

b. over $259,000?

c. under $324,000?

Exercise
In 2004, the average conventional first mortgage for new single-family homes was $294,000. Assuming a normal distribution and a standard deviation of σ = $30,000, what proportion of the mortgages were
a. more than $294,000?

b. between $234,000 and $354,000?

c. between $264,000 and $324,000?

d. more than $204,000?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
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