The average student loan debt for college graduates is $25,750. Suppose that that distribution is normal and that the standard deviation is $11,850. Let X = the student loan debt of a randomly selected college graduate. Round all probabilities to 4 decimal places and all dollar answers to the nearest dollar.
a. What is the distribution of X? X ~ N(Correct,Correct)
b Find the probability that the college graduate has between $7,950 and $22,800 in student loan debt.
c. The middle 10% of college graduates’ loan debt lies between what two numbers?
Low: $
High: $
