Question: The average loan amount issued by a small short-term lender is $985 with a standard deviation of $185. Determine the probability that the lender issues

The average loan amount issued by a small short-term lender is $985 with a standard deviation of $185. Determine the probability that the lender issues

a. more than $1,000 to a random borrower.

P(X>1,000)=P(X>1,000)=

Round to 4 decimal places if necessary

b. at most $1,000, on average, to a random sample of 20 borrowers.

P(X<1,000)=P(X<1,000)=

Round to 4 decimal places if necessary

c. between $1,000 and $1,050, on average, to a random sample of 20 borrowers.

P(1,000

Round to 4 decimal places if necessary

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