Question
1)For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015. Assume the standard deviation is $3,540 and that debt
1)For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015. Assume the standard deviation is $3,540 and that debt amounts are normally distributed.
a.What is the probability that the debt for a borrower with good credit is more than $18,000?
b.What is the probability that the debt for a borrower with good credit is less than $10,000?
c.What is the probability that the debt for a borrower with good credit is between $12,000 and $18,000?
d.What is the probability that the debt for a borrower with good credit is no more than $14,000?
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Statistical Techniques In Business And Economics
Authors: Douglas A. Lind, William G. Marchal, Samuel Adam Wathen
13th Edition
9780070667075
