SOLUTION: For borrowers with good credit scores, the mean debt for revolving
and installment accounts is $15,015. Assume the standard deviation is
$3540 and the debt amounts are normally
Algebra.Com
Question 1104747: For borrowers with good credit scores, the mean debt for revolving
and installment accounts is $15,015. Assume the standard deviation is
$3540 and the debt amounts are normally distributed.
What is the probability that the debt for a borrower with good credit is less than $10,000?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
z=(x-mean)/sd
z<=(10,000-15,015)/3540
z<=-5015/3540
z<=1.42
probability is 0.0778
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