Problem on probability based geometry, Ask an Expert

Statistics

Probability based on the Normal distribution.

The amounts of money requested in home loan applications at ABC Federal Savings are about normally distributed with a mean of $70,000 and a standard deviation of $20,000. A loan application is received this morning. What is the probability that:

a. The amount requested is $80,000 or more?

b. The amount requested is between $65,000 and $80,000?

c. The amount requested is between $65,000 or more?

d. Twenty percent of the loans are larger than what amount?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M920136

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

In this question are you just using the empirical ruleyou

In this question are you just using the empirical rule? You know that your population is normally distributed with a mean of 100 and a standard deviation of 15. Using the empirical rule as a rough approximation, what is ...

Which of the following techniques could we use to evaluate

Which of the following techniques could we use to evaluate the effect of sales at one coffee shop versus sales at another coffee shop, so see if the two shops might be cannibalizing business from one another?

A bottle of water is supposed to have 12 ounces the

A bottle of water is supposed to have 12 ounces. The bottling company has determined that 98% of bottles have the correct amount. Which of the following describes a binomial experiment that would determine the probabilit ...

A company that supplies batteries for watches guarantees

A company that supplies batteries for watches guarantees that 95% of the batteries it ships will be free from defects. You test a sample of 50 batteries you received. You find that fewer than 10 have defects. Does this l ...

According to a pew research center poll 22 of adult

According to a Pew Research Center poll, 22% of adult Americans have contributed to an online fundraising project. A random sample of 100 adults is selected. Let the random variable X be the number of adult Americans who ...

Can a business have too much money in cash meaning cash on

Can a business have too much money in Cash, meaning cash on hand as well as in checking and savings accounts? What if a business had 100 million dollars in these cash accounts but only needed half of that for what Keynes ...

Inbspa statistics instructor wants to measure the

I. A statistics instructor wants to measure the effectiveness of his teaching skills in a class of 66 students ( N = 66). He selects students by waiting at the door to the classroom prior to his lecture and pulling asid ...

The mean of a population of raw scores is 50 ox18 what is

The mean of a population of raw scores is 50 (ox=18). What is the probability of randomly selecting a sample of 40 score having a mean above 46?

Data collected over a long period of time showed that a

Data collected over a long period of time showed that a particular genetic defect occurs in 1 of every 1000 children. Let X be the random variable "number of children with genetic defect in a sample of 50,000 children ex ...

There are 2 white balls and 8 red balls in an

There are 2 white balls and 8 red balls in an urn. Consider selecting one ball at a time from the urn. What is the probability that the first ball is red and the second ball is also red? Express the probability in fracti ...

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

Recent Questions

Ask Statistics and Probability Expert