SOLUTION: . The average monthly mortgage payment including principal and interest is $982 in the United States. Assume that the standard deviation is approximately $180 and the mortgage paym
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Question 1081876: . The average monthly mortgage payment including principal and interest is $982 in the United States. Assume that the standard deviation is approximately $180 and the mortgage payments are approximately normally distributed. Find the probabilities of the monthly payment selected randomly. Round the final answers to four decimal places and intermediate z value calculations to two decimal places.
More than $1590=
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Do the arithmetic and then look up the Z-score in a Normal Distribution Table. Note that bigger than a Z-score that is greater than 3 is not very likely.
John
My calculator said it, I believe it, that settles it
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