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The value of mortgage loans made by a certain bank one year were normally distributed with a mean of $120,000 and a standard deviation of
The value of mortgage loans made by a certain bank one year were normally distributed with a mean of $120,000 and a standard deviation of $40,000. What is the probability that a randomly selected mortgage loan was in the range of $40,000 to $200,000? Note: You must find the corresponding z-scores by hand, showing your work. Then you may use your calculator, or the table provided on the last page, but clearly state the method you used and how you calculated your result. Round your answer to four decimal places.
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