Question: The average monthly mortgage payment is $982, the standard deviation is $180, The mortgage payments are approximately normally distributed, a monthly mortgage is selected at
The average monthly mortgage payment is $982, the standard deviation is $180, The mortgage payments are approximately normally distributed, a monthly mortgage is selected at random.
1.The probability that the mortgage payment is more than $1000 is:
a. 0.46b. 0.54c. 0.75
2.The probability that the mortgage payment is less than $1475 is:
a. 0.36b. 0.46c. 0.75
3.The probability that the mortgage payment is between $1000 and $1475 is:
a. 0.357b. 0.457c. 0.543
4.The lowest mortgage payment made by the top 10% of the mortgage holders is:
a. 1162b.1213c. 1342
5.The highest mortgage payment made by the bottom 10% of the mortgage holders is:
a.622b. 751c. 802
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