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2) The average loan amount issued by a small short-term lender is $861 with a standard...

2) The average loan amount issued by a small short-term lender is $861 with a standard deviation of $148. Determine the probabilities, assuming that the population data is normally distributed.

a) What is the probability that the lender issues more than $900 to a random borrower?

b) What is the probability that the lender issues at most $900, on average, to a random sample of 25 borrowers?

c) What is the probability that the lender issues between $900 and $950, on average, to a random sample of 25 borrowers?

Math   Statistics-And-Probability   
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