According to nerdwallet.com, the average household mortgage debt was $156,333 in August 2015. Suppose that the current
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According to nerdwallet.com, the average household mortgage debt was $156,333 in August 2015. Suppose that the current distribution of mortgage debts of all U.S. households has a mean of $156,333 and a standard deviation of $36,000. Find the probability that the current average mortgage debt of a random sample of 144 U.S. households is
a. Less than $152,400
b. More than $160,000
c. $152,000 to $160,000
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...
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