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Student loan debt is a growing problem, with the average amount owed being $32,920 per borrower and a standard deviation of $1,750. The probability that a randomly selected student borrower owes between $28,311 and $32,059 in student loans, assuming a normal distribution, is 0.4333.

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Student loan debt is a growing problem in the United States. According to Experian, each student borrower owes an average of $32,920. The standard deviation of the amounts all student borrowers owe is $1,750. Determine the probability that a randomly selected student borrow owes between $28,311 and $32,059 in student loans. Assume the distribution of all amounts owed by student borrows is normally distributed. Round the solution to four decimal places, if necessary.

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  • 1. Student loan debt is a growing problem in the United States. According to Experian, each student borrower owes an average of $32,920. The standard deviation of the amounts all student borrowers owe is $1,750. Determine the probability that a randomly selected student borrow owes between $28,311 and $32,059 in student loans. Assume the distribution of all amounts owed by student borrows is normally distributed. Round the solution to four decimal places, if necessary.