Assignment:
For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek. March 20. 2006). Assume the standard deviation is $3540 and that debt amounts are normally distributed.
a. What is the probability that the debt for a borrower with good credit is more than $ 18,000?
b. What is the probability that the debt for a borrower with good credit is less than $10,000?
c. What is the probability that the debt for a borrower with good credit is between $12,000 and $18,000?
d. What is the probability that the debt for a borrower with good credit is no more than $14,000?
Provide complete and step by step solution for the question and show calculations and use formulas.