Probability for the debt for a borrower

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Reference no: EM1388895

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.

a. What is the probability that the debt for a borrower with good credit is more than $18,000?

b. What is the probability that the debt for a borrower with good credit is less than $10,000?

c. What is the probability that the debt for a borrower with good credit is between $12,000 and $18,000?

d. What is the probability that the debt for a borrower with good credit is no more than $14,000?

Reference no: EM1388895

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