SOLUTION: The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approx

Algebra ->  Probability-and-statistics -> SOLUTION: The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approx      Log On


   

Question 1161366: The interest rate for the financing of a used car is on average 9% with a standard deviation of 3%. Assuming that interest rates for used car loans are normally distributed, approximately what percent of loans have an interest rate that is between 6% and 12%?

Question options:
99.7%

68%

95%

34%
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
This is within 1 sd of the average and the probability of something being there with the empiric rule is 68%