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A study on college students says that the average college student credit card debt is around $3200 with a standard deviation of $500. Assuming that
A study on college students says that the average college student credit card debt is around $3200 with a standard deviation of $500. Assuming that credit card indebtedness is normally distributed, answer the following questions.
1. What is the probability that a randomly selected student owes more than $3500 in credit card debt?
2. If 25 students are randomly selected, what is the probability that the average credit card indebtedness is more than $3500?
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