For borrowers with good credit scores, the mean debt for revolving and installment accounts was $15,015 in 2006 (Business Week, March 20, 2006). Assume debt amounts are normally distributed with a standard deviation of $3,540. A. What is the probability that the debt for a randomly selected borrower with good credit is more than $18,000? P(X>18,000) B. What is the probability that the debt for a randomly selected borrower with good credit is less than $10,000? P(X10,000) C. What is the probability that the debt for a randomly selected borrower with good credit is between $12,000 and $18,000? P(12,000
For borrowers with good credit scores, the mean debt for revolving and installment accounts was $15,015 in 2006 (Business Week, March 20, 2006). Assume debt amounts are normally distributed with a standard deviation of $3,540. A. What is the probability that the debt for a randomly selected borrower with good credit is more than $18,000? P(X>18,000) B. What is the probability that the debt for a randomly selected borrower with good credit is less than $10,000? P(X10,000) C. What is the probability that the debt for a randomly selected borrower with good credit is between $12,000 and $18,000? P(12,000
MATLAB: An Introduction with Applications
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Author:Amos Gilat
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![For borrowers with good credit scores, the mean debt for revolving and installment accounts was $15,015 in 2006 (Business Week,
March 20, 2006). Assume debt amounts are normally distributed with a standard deviation of $3,540.
A. What is the probability that the debt for a randomly selected borrower with good credit is more than $18,000?
P(X> 18,000) =
B. What is the probability that the debt for a randomly selected borrower with good credit is less than $10,000?
P(X<10,000) =
C. What is the probability that the debt for a randomly selected borrower with good credit is between $12,000 and $18,000?
P(12,000<x< 18,000) =
D. What is the probability that the debt for a randomly selected borrower with good credit is no more than $14,000?
P(X<14,000) =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8095922b-c6e9-41a5-aaf9-40795a5664d9%2F625f6bce-2a59-4b70-b40e-f175f13555de%2F3xyfflb_processed.png&w=3840&q=75)
Transcribed Image Text:For borrowers with good credit scores, the mean debt for revolving and installment accounts was $15,015 in 2006 (Business Week,
March 20, 2006). Assume debt amounts are normally distributed with a standard deviation of $3,540.
A. What is the probability that the debt for a randomly selected borrower with good credit is more than $18,000?
P(X> 18,000) =
B. What is the probability that the debt for a randomly selected borrower with good credit is less than $10,000?
P(X<10,000) =
C. What is the probability that the debt for a randomly selected borrower with good credit is between $12,000 and $18,000?
P(12,000<x< 18,000) =
D. What is the probability that the debt for a randomly selected borrower with good credit is no more than $14,000?
P(X<14,000) =
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