What is the mean monthly mortgage paid by all homeowners

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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

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