Question: A study found that consumers are making average monthly debt payments of $983 (Experian.com, November 11, 2010). The accompanying table shows a portion of average
A study found that consumers are making average monthly debt payments of $983 (Experian.com, November 11, 2010). The accompanying table shows a portion of average monthly debt payments for 26 metropolitan areas.[You may find it useful to reference thet table.]
CityDebt PaymentsWashington, D.C.$1,285Seattle1,135Baltimore1,133Boston1,133Denver1,104San Francisco1,098San Diego1,076Sacramento1,045Los Angeles1,024Chicago1,017Philadelphia1,011Minneapolis1,011New York989Atlanta986Dallas970Phoenix957Portland948Cincinnati920Houston889Columbus888St. Louis886Miami867Detroit832Cleveland812Tampa791Pittsburgh763
Source: http://www.Experian.com, November 11, 2010.
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a.Calculate the mean and standard deviation for debt payments
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