Question

College and University Debt A student graduated from a 4-year college with an outstanding loan of $10,311, where the average debt is $8599 with a standard devition of $1823, Another student graduated from a university with an outstanding loan of $12,272, where the average of the outstanding toans was $10.353 with a standard deviation of $2102. Part: 0/2 Part 1 of 2 Find the corresponding z score for each student. Round z scores to two decimal places. College student: z= University student: z=

Answer 1

The z-score for the college student with an outstanding loan of $10,311 is approximately 0.94, and the z-score for the university student with an outstanding loan of $12,272 is approximately 0.91.

Step-by-step explanation:

Finding the Z-Score

The z-score is calculated by taking the difference between the value in question and the mean, and then dividing that by the standard deviation. The formula is z = (X - μ) / σ, where X is the value, μ is the mean, and σ is the standard deviation.

For the college student with a loan amount of $10,311, the average debt is $8,599 with a standard deviation of $1,823. The calculation of their z-score is as follows:

z = ($10,311 - $8,599) / $1,823
z ≈ 0.94

For the university student with a loan amount of $12,272, the average debt is $10,353 with a standard deviation of $2,102. The calculation of their z-score is as follows:

z = ($12,272 - $10,353) / $2,102
z ≈ 0.91