College and University Debt A student graduated from a 4 year college with an outstanding loan of $10,060 , where the average debt is $8571with a standard deviation of $1808. Another student graduated from a university with an outstanding loan of $11,690, where the average of the outstanding loans was $10,338with a standard deviation of $2178. Find the corresponding z score for each student. Round z scores to two decimal places. College student: =z University student: =z
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
College and University Debt A student graduated from a 4 year college with an outstanding loan of $10,060 , where the average debt is $8571with a standard deviation of $1808. Another student graduated from a university with an outstanding loan of $11,690, where the average of the outstanding loans was $10,338with a standard deviation of $2178.
Find the corresponding
score for each student. Round
scores to two decimal places.
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College student:
=z
University student: =z
|
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