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) a high school guidance counselor who provides college attendance advice to seniors wants to know the highest 10% of average student loan debt values. Use the normal model to determine the cutoff value for the highest 10% of average student loan debt value.
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) a high school guidance counselor who provides college attendance advice to seniors wants to know the highest 10% of average student loan debt values. Use the normal model to determine the cutoff value for the highest 10% of average student loan debt value.
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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Question
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) a high school guidance counselor who provides college attendance advice to seniors wants to know the highest 10% of average student loan debt values. Use the normal model to determine the cutoff value for the highest 10% of average student loan debt value.
Transcribed Image Text:TESAFETERINARSEPPRINN
9
18
19
Rank
20
28
29
30
31
32
33
35
36
37
38
39
40
41
42
44
45
46
47
48
49
50
53
State
1 Utah
2 New Mexico
3 Nevada
4 California
5 Wyoming
6 Washington
7 Florida
8 Arizona
9 Hawaii
10 Tennessee
11 Alaska
12 Nebraska
13 North Dakota
14 North Carolina
15 Oklahoma
16 Arkansas
17 Idaho
18 Colorado
19 Louisiana
20 Missouri
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 Minnesola
43 Massachusetts
44 South Dakota
45 New York
46 Connecticut
47 Alabama
48 New Hampshire
49 Delaware
Average Debt per Borrower % change from Class of '1% of Graduates w Debt
39
-2.05
2.3
53
-8.73
49
50
47
52
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
29795
30268
30310
30321
30794
30978
31231
31319
31332
31506
31643
31861
33462
34144
35371
36193
-11,25
-3.33
-2.02
2.26
-3.46
-5.85
-2.75
-3.59
1.03
3.52
0.77
145
-1.39
0.5
-0.2
0.4
2.92
163
-4.37
-0.95
-3.01
3.85
-8.4
-0.2
5.88
1.96
0.33
-0.08
118
6.43
0.49
-17
3.78
2.78
191
9.07
2:14
-0.35
24
-0.59
3,97
-2.11
1.93
-4.78
147
15.78
2.87
50
54
49
56
46
55
66
58
48
55
61
52
48
59
55
57
58
70
60
57
59
56
65
60
64
46
50
58
59
62
58
68
59
73
64
58
50
74
62
64
67
Ky
bin range
20000
22500
25000
27250
30000
32500
35000
37500
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