statistics problem-calculating percentile. i will best!!

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A survey of over 1,713 people had an average student load debt of $32,795 (s.d. = $4,997)

Assuming that educational debt is normally distributed, calculate the percentile rank of a recent graduate who graduated with $41,000 in education-related debt. 

Mar 12th, 2015

First find the Z-score = (41000 -32795)/4997

                                   = 1.4418

Now find the area less than or equal to this =0.953

Hence this student ;s percentile rank is 95.3% (he has debt more than or equal to 95.3$%of the students)

                                    

Mar 12th, 2015

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Mar 12th, 2015
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Mar 12th, 2015
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