Suppose Canadian home-owners owe an average of $194,000 on their mortgages. Assume that mortgage debt is normally distributed in Canada with a standard deviation of $94,000.

Standard Normal Distribution Table

a. Albertans are reported to owe $243,400 in mortgage debt, much higher than the Canadian average. What is the probability of randomly selecting a Canadian with mortgage debt that exceeds $243,400?

Round to four decimal places if necessary

b. What is the probability of randomly selecting a Canadian with mortgage debt below $102,000?

Round to four decimal places if necessary

c. Determine the minimum mortgage debt owing by the 24% of Canadians with the largest mortgages.

Round to the nearest dollar