Question: 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 $3540 and that debt amounts are normally distributed.
a. What is the probability that the debt for a borrower with good credit is more than S 18.000?
b. What is the probability that the debt for a borrower with good credit is less than 510.000?
c. What is the probability that the debt for a borrower with good credit is between $12,000 and $18.000?
d. What is the probability that the debt for a borrower with good credit is no more than $14.000?