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Question 1 The average credit card debt for college seniors is $3262. If the debt is normally distributed with a standard deviation of $1100,
Question 1 The average credit card debt for college seniors is $3262. If the debt is normally distributed with a standard deviation of $1100, find these probabilities. a) The senior owes less than $1000. b) The senior owes more than $4000. c) The senior owes between $3000 and $4000 d) The senior owes less than $1000 or more than $4000 e) The senior owes exactly $2500 f) What is the minimum amount a senior needs to owe to be considered a senior with debt in the top 10%? g) What is the maximum a senior needs to owe to be considered a senior with debt in the bottom 1% ? (ROUND ALL ANSWERS TO 4 DECIMAL PLACES. NO EXCEPTIONS!!)
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