Question

According to a PNC Financial Independence Survey released in March 2012, today’s U.S. adults in their 20s “hold an average debt of about $45,000, which includes everything from cars to credit cards to student loans to mortgages” (USA TODAY, April 24, 2012). Suppose that the current distribution of debts of all U.S. adults in their 20s has a mean of $45,000 and a standard deviation of $12,720. Find the probability that the average debt of a random sample of 144 U.S. adults in their 20s is
a. Less than $42,600
b. More than $46,240
c. $43,190 to $46,980


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  • CreatedAugust 25, 2015
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