The amounts of money requested on home loan applications at, Ask an Expert

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The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day. By hand:

a. Find the probability that the amount requested amount is $90,000 or more?

b. Find the probability that the amount requested is between $75,000 and $90,000?

c. How much is requested on the largest three percent of loans?

d. How much is requested on the smallest ten percent of the loans?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9123083

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