SOLUTION: 1. For borrowers with good credit scores, the mean debt for revolving and installment accounts is Rs.15,015. Assume the standard deviation isRs.3540 and that debt amounts are norma
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Question 1190329: 1. For borrowers with good credit scores, the mean debt for revolving and installment accounts is Rs.15,015. Assume the standard deviation isRs.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 Rs.18,000?
b. What is the probability that the debt for a borrower with good credit is less than Rs.10,000?
c. What is the probability that the debt for a borrower with good credit is between Rs.12,000and Rs.18,000?
d. What is the probability that the debt for a borrower with good credit is no more thanRs.14,000?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
using the statistical calculator at https://davidmlane.com/hyperstat/z_table.html, i get the following:
a. What is the probability that the debt for a borrower with good credit is more than Rs.18,000?
.1996
b. What is the probability that the debt for a borrower with good credit is less than Rs.10,000?
.0783
c. What is the probability that the debt for a borrower with good credit is between Rs.12,000and Rs.18,000?
.6033
d. What is the probability that the debt for a borrower with good credit is no more thanRs.14,000?
.3872
here are the results from using that calculator in the same order as the questions.
you enter the mean of 15015.
you enter the standard deviatiomn of 3540.
you select the right options.
the calculator does the rest.
let me know if you have any questions.
theo
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