Suppose Canadian home-owners owe an average of $186,000 on their mortgages. Assume that mortgage debt is normally distributed in Canada with a standard deviation of $89,000. Standard Normal Distribution Table a. Albertans are reported to owe $246,800 in mortgage debt, much higher than the Canadian average. What is the probability of randomly selecting a Canadian with mortgage debt that exceeds $246,800? 0.0000 Round to four decimal places if necessary b. What is the probability of randomly selecting a Canadian with mortgage debt below $99,000? 0.0000 Round to four decimal places if necessary c. Determine the minimum mortgage debt owing by the 19% of Canadians with the largest mortgages. $0 Round to the nearest dollar

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Suppose Canadian home-owners owe an average of $186,000 on their mortgages.
Assume that mortgage debt is normally distributed in Canada with a standard deviation
of $89,000.
Standard Normal Distribution Table
a. Albertans are reported to owe $246,800 in mortgage debt, much higher than the
Canadian average. What is the probability of randomly selecting a Canadian with
mortgage debt that exceeds $246,800?
0.0000
Round to four decimal places if necessary
b. What is the probability of randomly selecting a Canadian with mortgage debt below
$99,000?
0.0000
Round to four decimal places if necessary
c. Determine the minimum mortgage debt owing by the 19% of Canadians with the
largest mortgages.
$0
Round to the nearest dollar
Transcribed Image Text:Suppose Canadian home-owners owe an average of $186,000 on their mortgages. Assume that mortgage debt is normally distributed in Canada with a standard deviation of $89,000. Standard Normal Distribution Table a. Albertans are reported to owe $246,800 in mortgage debt, much higher than the Canadian average. What is the probability of randomly selecting a Canadian with mortgage debt that exceeds $246,800? 0.0000 Round to four decimal places if necessary b. What is the probability of randomly selecting a Canadian with mortgage debt below $99,000? 0.0000 Round to four decimal places if necessary c. Determine the minimum mortgage debt owing by the 19% of Canadians with the largest mortgages. $0 Round to the nearest dollar
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