Many students accumulate debt by the time they graduate from college. Shown in the following table is the percentage of graduates with debt and the average amount of debt for these graduates at four universities and four liberal arts colleges (U.S. News and World Report, America’s Best Colleges, 2008).

a. If you randomly choose a graduate of Morehouse College, what is the probability that this individual graduated with debt?
b. If you randomly choose one of these eight institutions for a follow-up study on student loans, what is the probability that you will choose an institution with more than 60% of its graduates having debt?
c. If you randomly choose one of these eight institutions for a follow-up study on student loans, what is the probability that you will choose an institution whose graduates with debts have an average debt of more than $30,000?
d. What is the probability that a graduate of Pace University does not have debt?
e. For graduates of Pace University with debt, the average amount of debt is $32,980. Considering all graduates from Pace University, what is the average debt pergraduate?

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University % with Debt Pace Iowa State Massachusetts SUNY-Albany Amount($) College Wartburg % with Debt 83 94 Amount($) 28,758 27,000 10,206 11,012 72 69 32,980 32,130 ohuse 11.227 Wellesley Wofford 64 11.856 49