Nationally, the amount of debt from college student loans is exceeded only by mortgage debt and is a significant burden for many students after graduation. This photo shows the average student loan debt for a recent graduate of 4-year public colleges and universities in each state and Washington D.C.The distribution of the data can be approximated by a normal model with mean u = $28045 and standard deviation = $3604 a) use the normal model to determine the probability that the average student loan debt is more than $25000.b) use the normal model to determine the IQR of the average student loan debt. 1 Rank State1 Utah2 New Mexico3 Nevada4 California5 Wyoming6 Washington7 Florida8 Arizona9 Hawaii- زم زرا234PASTIERAPPERENN28428528625885517181920212729303233343637383940414344474849505152535410 Tennessee11 Alaska12 Nebraska13 North Dakota14 North Carolina15 Oklahoma16 Arkansas17 Idaho18 Colorado19 Louisiana20 Missour21 Texas22 Oregon23 Kansas24 West Virginia25 Kentucky26 Georgia27 Montana28 Illinois29 Maryland30 Virginia31 Indiana32 lowa33 Wisconsin34 Vermont35 Ohio36 District of Columbia37 Mississippi38 South Carolina39 Maine40 New Jersey41 Michigan42 Minnesota43 Massachusetts44South DakotaNew York4546 ConnecticutAverage Debt per Borrower % change from Class of '1% of Graduates w Debt-2.052.3-8.73-0.47-11.25-3.33-2.022.26-3.46-5.85-2.75-3.591.033.520.771.45-1.390.5-0.20.42.921.63-4.37-0.95-3.013.85-8.4-0.25.881.960.33-0.0847 Alabama48 New Hampshire49 Delaware50 Rhode Island51 Pennsylvania18425218052202622383225242335923556239132495525054253492550126080261642627026561266042666226808268342700127550276042760828078283762838928424288442931629405294112956929656297232979.5302683031030321307943097831231313193133231506316433186133462341443537136193g-1.186.430.49-173.782.781.919.072.14-0.352.4-0.593.97-2.111.93-4.781.4715.782.873931939333333385233333828933933833933333688283588888bin range2000022500250002725030000325003500037500

a) given that mean (µ) = 28045 , σ =3604 = p(x>25000) = p(z > 25000-280453604) = p(z>-0.84)…

Answered: Nationally, the amount of debt from…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Nationally, the amount of debt from college student loans is exceeded only by mortgage debt and is a significant burden for many students after graduation. This photo shows the average student loan debt for a recent graduate of 4-year public colleges and universities in each state and Washington D.C. The distribution of the data can be approximated by a normal model with mean u = $28045 and standard deviation = $3604 a) use the normal model to determine the probability that the average student loan debt is more than $25000. b) use the normal model to determine the IQR of the average student loan debt.

1 Rank State
1 Utah
2 New Mexico
3 Nevada
4 California
5 Wyoming
6 Washington
7 Florida
8 Arizona
9 Hawaii
- زم زرا
2
3
4
PASTIERAPPERENN284285286258855
17
18
19
20
21
27
29
30
32
33
34
36
37
38
39
40
41
43
44
47
48
49
50
51
52
53
54
10 Tennessee
11 Alaska
12 Nebraska
13 North Dakota
14 North Carolina
15 Oklahoma
16 Arkansas
17 Idaho
18 Colorado
19 Louisiana
20 Missour
21 Texas
22 Oregon
23 Kansas
24 West Virginia
25 Kentucky
26 Georgia
27 Montana
28 Illinois
29 Maryland
30 Virginia
31 Indiana
32 lowa
33 Wisconsin
34 Vermont
35 Ohio
36 District of Columbia
37 Mississippi
38 South Carolina
39 Maine
40 New Jersey
41 Michigan
42 Minnesota
43 Massachusetts
44
South Dakota
New York
45
46 Connecticut
Average Debt per Borrower % change from Class of '1% of Graduates w Debt
-2.05
2.3
-8.73
-0.47
-11.25
-3.33
-2.02
2.26
-3.46
-5.85
-2.75
-3.59
1.03
3.52
0.77
1.45
-1.39
0.5
-0.2
0.4
2.92
1.63
-4.37
-0.95
-3.01
3.85
-8.4
-0.2
5.88
1.96
0.33
-0.08
47 Alabama
48 New Hampshire
49 Delaware
50 Rhode Island
51 Pennsylvania
18425
21805
22026
22383
22524
23359
23556
23913
24955
25054
25349
25501
26080
26164
26270
26561
26604
26662
26808
26834
27001
27550
27604
27608
28078
28376
28389
28424
28844
29316
29405
29411
29569
29656
29723
2979.5
30268
30310
30321
30794
30978
31231
31319
31332
31506
31643
31861
33462
34144
35371
36193
g
-1.18
6.43
0.49
-17
3.78
2.78
1.91
9.07
2.14
-0.35
2.4
-0.59
3.97
-2.11
1.93
-4.78
1.47
15.78
2.87
3931939333333385233333828933933833933333688283588888
bin range
20000
22500
25000
27250
30000
32500
35000
37500

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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