College and University Debt A student graduated from a 4 -year college with an outstanding loan of $9942 , where the average debt is $8519 with a standard deviation of $1872 . Another student graduated from a university with an outstanding loan of $11,816 , where the average of the outstanding loans was $10,353 with a standard deviation of $2168. Find the corresponding z score for each student. Round z scores to two decimal places. College student: =z University student: =z Which student had a higher debt in relationship to his or her peers? The college student/university has a higher debt than?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
College and University Debt A student graduated from a 4 -year college with an outstanding loan of $9942 , where the average debt is $8519 with a standard deviation of $1872 . Another student graduated from a university with an outstanding loan of
with a standard deviation of $2168.
Find the corresponding
score for each student. Round
scores to two decimal places.
| College student:
=z
=z
|
|
Which student had a higher debt in relationship to his or her peers? The college student/university has a higher debt than?
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