Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Nov 2017 My Price 5.00

good credit scores


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 $18,000?

b. What is the probability that the debt for a borrower with good credit is less than $10,000?

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?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Nov 2017 05:11 PM My Price 5.00

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