Question

For the normal distribution described in Exercise 7.11, what first-mortgage amount would have been exceeded by only 5% of the mortgage customers?
In exercise
Assuming a normal distribution and a standard deviation of σ = $30,000, what proportion of the mortgages were Source: Bureau of the Census, Statistical Abstract of the United States 2009, p. 726.


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  • CreatedSeptember 08, 2015
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