Question 1168012: The amounts of money requested on home loan applications at Down River Federal Savings follow the normal distribution, with a mean of $68,000 and a standard deviation of $16,000. A loan application is received this morning. What is the probability that: (Round z-score computation to 2 decimal places and the final answer to 4 decimal places.)
a. The amount requested is $83,000 or more?
Probability
b. The amount requested is between $56,000 and $83,000?
Probability
c. The amount requested is $56,000 or more?
Probability
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! z=(x-mean)/sd
>15000/16000=0.94
that probability is 0.1736
this is z between -0.75 and z +0.94
0.5998 probability
The third is the sum of the first two probabilities or 0.7734 probability.
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