Probability values depend on normal distribution

Reference no: EM1317592

The amounts of money requested in home loan applications at ABC Federal Savings are approximately normally distributed with a mean of $70,000 and a standard deviation of $20,000. A loan application is received this morning. What is the probability that:

(a) The amount requested is between $65,000 or more?

(b) Twenty percent of the loans are larger than what amount?

Reference no: EM1317592

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