The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is 3% and 15%? A.99.7% B.95% C.68% D.34%
The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is 3% and 15%? A.99.7% B.95% C.68% D.34%
The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is 3% and 15%? A.99.7% B.95% C.68% D.34%
The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is 3% and 15%?
A.99.7%
B.95%
C.68%
D.34%
Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.
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