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(Steps Shown) For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume

Question: For borrowers with good credit scores, the mean debt for revolving and installment

accounts is $15,015 (BusinessWeek, March 20, 2006 ). Assume the standard deviation is

$3540 and that debt amounts are normally distributed.

  1. What is the probability that the debt for a borrower with good credit is more than
    $18,000?
  2. What is the probability that the debt for a borrower with good credit is less than
    $10,000?
  3. What is the probability that the debt for a borrower with good credit is between $12,000 and $18,000?
  4. What is the probability that the debt for a borrower with good credit is no more than $14,000?

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