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For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015....

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Basic Math

  1. For borrowers with good credit scores, the mean debt forrevolving and installment accounts is $15,015. Assume the standarddeviation is $3,540 and that debt amounts are normallydistributed.
  1. What is the probability that the debt for a borrower with goodcredit is more than $18,000?
  2. What is the probability that the debt for a borrower with goodcredit is less than $10,000?
  3. What is the probability that the debt for a borrower with goodcredit is between $12,000 and $18,000?
  4. What is the probability that the debt for a borrower with goodcredit is no more than $14,000?

Answer & Explanation Solved by verified expert
3.9 Ratings (731 Votes)
Let X be the debt for a borrower with good credits Then fromthe question it is known that X follows Normal    See Answer
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