The U.S. Census states that the average net worth of a family that rents (rather than owns)
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The U.S. Census states that the average net worth of a family that rents (rather than owns) their residence is $2,381. Assume that this variable is normally distributed with a standard deviation of $800.
a. What is the probability that a randomly selected family that rents their home has a negative net worth?
b. Compute the proportion of families that rent their home that have a net worth of more than $4,000.
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