In 2007, the average conventional first mortgage for new single family homes was $360,000 Assuming a normal distribution and a standard deviation of $30,000, what proportion of the mortgages were Source Bureau of the Census, Statistical Abstract of the United States 2009, p 726 a more than $360,000...

Given x amount of first mortgage normally distributed m 360000 s 30000 Usi ...

In 2007, the average conventional first mortgage for new single-family homes was $360,000. Assuming a normal distribution

Question:

In 2007, the average conventional first mortgage for new single-family homes was $360,000. Assuming a normal 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.
a. more than $360,000?
b. between $300,000 and $420,000?
c. between $330,000 and $390,000?
d. more than $270,000?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...