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 $41,000 in education-related debt.
First find the Z-score = (41000 -32795)/4997
Now find the area less than or equal to this =0.953
Hence this student ;s percentile rank is 95.3% (he has debt more than or equal to 95.3$%of the students)
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