Debt for a randomly selected borrower with good credit, Basic Statistics

Debt for a randomly selected borrower with good credit

For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are normally distributed.

What is the probability that the debt for a randomly selected borrower with good credit is more than $18,000 (to 4 decimals)?

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Basic Statistics: Debt for a randomly selected borrower with good credit

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Basic Statistics: Debt for a randomly selected borrower with good credit

Reference No:- TGS0843030

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Recent Questions Asked Basic Statistics

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Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Debt for a randomly selected borrower with good credit

Reference No:- TGS0843030

Recent Questions Asked Basic Statistics

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