(Answered) What is the probability that the average debt

Statistics

Problem: Last year, the typical college student graduated with $26,100 in debt (The Boston Globe, May 27, 2012). Let debt among recent college graduates be normally distributed with a standard deviation of $6,000.

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Question 1: What is the probability that the average debt of three recent college graduates is more than $20,000?(Round intermediate calculations to 4 decimal places, "z" value to 2 decimal places, and final answer to 4 decimal places.)

Question 2: What is the probability that the average debt of three recent college graduates is more than $25,000?(Round intermediate calculations to 4 decimal places, "z" value to 2 decimal places, and final answer to 4 decimal places.)

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