According to a PEW Research Center survey, the mean student loan at graduation is $25,000. Suppose that
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According to a PEW Research Center survey, the mean student loan at graduation is $25,000. Suppose that student loans are normally distributed with a standard deviation of $5,000. A graduate with a student loan is selected at random. Find the following probabilities.
a. The loan is greater than $30,000.
b. The loan is less than $22,500.
c. The loan falls between $20,000 and $32,000.
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