What is the mean monthly mortgage paid by all homeowners

Assignment Help Mathematics
Reference no: EM13190992

It is known that 15% of all homeowners pay a monthly mortgage of more than $2500 and that the standard deviation of the monthly mortgage payments of all homeowners is $350. Suppose that the monthly mortgage payments of all homeowners have a normal distribution. What is the mean monthly mortgage paid by all homeowners?

Reference no: EM13190992

Questions Cloud

Find the doubling time to the nearest tenth of a month : Determine, to two decimal places, the base b for an exponential model y = Abt of the rate of television thefts as a function of time in months.
Construct a diagram using rationaleto map the arguments : Construct a diagram using Rationaleto map the arguments about a moral claim that you have identified in the article/case study
Approxamate the thickness of the film : a drop of oil measuring .28 cubic cm is spilled onto a lake. the oil spreads into a circular shap with a diameter of 22cm. Approxamate the thickness of the film.
Compute the mass of nitric acid produced from the reaction : The following set of reactions can be used to produce nitric acid, HNO3. Calculate the mass of nitric acid produced from the reaction of 15.5 kg of nitrogen gas with excess hydrogen gas. Each reaction in turn has an excess of the second reactant a..
What is the mean monthly mortgage paid by all homeowners : Suppose that the monthly mortgage payments of all homeowners have a normal distribution. What is the mean monthly mortgage paid by all homeowners?
Define countries benefit if all trade barriers were dropped : which country has the greater opportunity cost of producing olive oil b)the country which would end up exporting wine and which would export olive oil after the elimination of trade barriers.Olive Oil yield 40 barrels 30 barrels
What is the missing term in the geometric sequence : What is the missing term in the geometric sequence?
What is the most full hours the electrician can work : Using the equation from number 12, if you have a budget of 300.00 dollars for this job, what is the most full hours the electrician can work? Note: You want the largest number of hours without going over your budget.
State what volume of a solution of nickel : what volume of a 0.400 mM solution of nickel (II) acetate (FW 247.7 g/mol) is required to provide 20mg of nickel

Reviews

Write a Review

Mathematics Questions & Answers

  Permutations in probability

There are 10 workers and 2 administrators in a company meeting room. Two people will be selected at random without replacement. The chance that the second person is a worker is:

  Parabola from the given data

Find the directrix, focus and roots of the parabola from the given data and sketching the graph of given equation

  Even permutation

The group of even permutations of n symbols is denoted by A_n and is called the alternating group of degree n. Show that A_8 contains an element of order 15.

  Information about newton second law of motion

Suppose that a body moves in a straight line through a resisting medium with resistance proportional to the square of it's speed v with initial speed v_0 and initial position x_0.

  How many people in the survey own either a microwave

a survey of 1100 people in a certain city indicates that 850 own microwave ovens, 750 own dvd players and 560 own microwave ovens and dvd players.

  On what page will the 2009th digit occur

Pages in a book are numbered in typical fashion, starting with 1. The folio for page 10 will contain the tenth and eleventh digits necessary to paginate the book. On what page will the 2009th digit occur?

  Use the slopes to interpret any change in daily revenues

the following are the slopes of lines representing daily revenues y in term of time x in days. Use the slopes to interpret any change in daily revenues for a one-day increase in time.

  Proof of zero test for sequences

Let (a_n) evaluated from n=M to infinity be a sequence of real numbers. Then the limit lim as n-->infinity of a_n exists and is equal to zero if and only if the limit lim as n-->infinity of the absolute value of a_n exists and is equal to zero.

  How far will an automobile travel in 6 hours

The distance in miles an automobile travels is given by the formula D = rt, where r is the rate in miles per hour and t is the time in hours. How far will an automobile travel in 6 hours at a rate of 55 miles per hour?

  What happens to her caloric needs as she gets older

Sarah is a moderately active woman. She weighs 130 pounds, is 68 inches tall, and is 25 years old. Based on the following formula, what are her caloric needs? What happens to her caloric needs as she gets older? Why do you think this happens? usin..

  Maximal interval of existence of initial value problem

Please solve the following initial value problem: We solve the initial value problem using separation of variables. We use partial fractions to solve for the integral of 1/(x^2-4).

  Basic permutation example

Sarah, Jolly and Betty are female triplets. They and their 10 cousins are posing for a series of photographs. One pose involves all 13 children. How many ways can the 7 boys and 6 girls be arranged in one row under each of the following conditions..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd