Monthly Mortgage Payments The average monthly mortgage payment including principal and interest is $982 in the United States. Assume that the standard deviation is approximately $180 and the mortgage payments are approximately normally distributed. Find these probabilities of the monthly payment selected randomly. Enter the final answers as decimals rounded to at least four places. Round intermediate -value calculations to two decimal places. Part 1 of 2 (a) More than $1500 P(X>1500)-0.0023 Part: 1/2 Part 2 of 2 (b) Between $850 and $1180 P(850

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Author:Erwin Kreyszig
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Monthly Mortgage Payments The average monthly mortgage payment including principal and interest is $982 in the United States. Assume that the standard
deviation is approximately $180 and the mortgage payments are approximately normally distributed. Find these probabilities of the monthly payment selected
randomly. Enter the final answers as decimals rounded to at least four places. Round intermediate -value calculations to two decimal places.
Part 1 of 2
(a) More than $1500
P(X>1500)-0.0023
Part: 1/2
Part 2 of 2
(b) Between $850 and $1180
P(850<x<1180)=0.0158
o
@
E
249
S
dle
20
Transcribed Image Text:Monthly Mortgage Payments The average monthly mortgage payment including principal and interest is $982 in the United States. Assume that the standard deviation is approximately $180 and the mortgage payments are approximately normally distributed. Find these probabilities of the monthly payment selected randomly. Enter the final answers as decimals rounded to at least four places. Round intermediate -value calculations to two decimal places. Part 1 of 2 (a) More than $1500 P(X>1500)-0.0023 Part: 1/2 Part 2 of 2 (b) Between $850 and $1180 P(850<x<1180)=0.0158 o @ E 249 S dle 20
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