In 2004, the average conventional first mortgage for new single family homes was $294,000 Assuming a normal distribution and a standard deviation of $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 $204,0...

Given x amount of first mortgage normally distributed m 294000 s 30000 Usi ...

In 2004, the average conventional first mortgage for new single-family homes was $294,000. Assuming a normal distribution

Question:

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?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...