The emounts of money requested on home loan applications at Down River Federal Savings follow the normal distribution, where amount requested for home loans followed the normal distribution with a mean of $79,000 and a standard deviation of $16,000 (Round escore computation to 2 decimal pleces and the final answers to the nearest whole dollars.) e. What is the minimum amount requested on the largest 4% of loans? b. What is the maximum amount requested on the smallest 12% of loans?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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The amounts of money requested on home loan applications at Down River Federal Savings follow the normal distribution, where the
amount requested for home loans followed the normal distribution with a mean of $79,000 and a standard deviation of $16,000
(Round zscore computation to 2 decimal places and the final answers to the nearest whole dollars.)
a. What is the minimum amount requested on the largest 4% of loans?
b. What is the maximum amount requested on the smallest 12% of loans?
Transcribed Image Text:The amounts of money requested on home loan applications at Down River Federal Savings follow the normal distribution, where the amount requested for home loans followed the normal distribution with a mean of $79,000 and a standard deviation of $16,000 (Round zscore computation to 2 decimal places and the final answers to the nearest whole dollars.) a. What is the minimum amount requested on the largest 4% of loans? b. What is the maximum amount requested on the smallest 12% of loans?
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