Ch. 6.1 #7-49 odd
Ch. 6.1 #7-49 odd
Ch. 6.1 #7-49 odd
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a) That the senior owes at least $1000<br />
X 1000 3262 2262<br />
z 2.06<br />
1100 1100<br />
Pz ( 2.06) 1 0.0197 0.9803 or98.03%<br />
-2.06 0<br />
b) That the senior owes more than $4000<br />
X <br />
4000 3262 738<br />
z 0.67<br />
1100 1100<br />
Pz ( 0.67) 1 0.7486 0.2514 or 25.14%<br />
0 0.67<br />
c) That the senior owes between $3000 and $4000<br />
X 3000 3262 262<br />
z 0.24<br />
1100 1100<br />
X <br />
4000 3262 738<br />
z 0.67<br />
1100 1100<br />
P( 0.24 z 0.67) 0.7486 0.4052 0.3434 or 34.34%<br />
-0.24 0.67
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