According to the Federal Reserve Board, the average credit card debt per U.S. household was $8,565 in
Question:
a. Determine the percentage of households that have a credit card debt of more than $13,000.
b. One household has a credit card debt that is at the 95th percentile. Determine its credit card debt.
c. If four households were selected at random, determine the probability that at least half of them would have credit card debt of more than $13,000.
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Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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