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[See Solution] USA Today reported (Sandra Block, "Costs rising, so tame credit card bills now," October 18, 2005) that the average credit card debt per US. household

Question: USA Today reported (Sandra Block, "Costs rising, so tame credit card bills now," October 18, 2005) that the average credit card debt per US. household was $9,312 in 2004. Assume that the distribution of credit card debt per household has a normal distribution with a standard deviation of $3,000.

  1. Determine the percentage of households that have a credit card debt of more than $15,000.
  2. One household has a credit card debt that is at the 95th percentile. Determine its credit card debt.
  3. If four households were selected at random, determine the probability that- at least half of them would have credit card debt of more than $15,000.

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