Final answer:
The correct interpretation of the 40th percentile being 62 on an exam is that 40% of the people had a score at or below 62.
Step-by-step explanation:
The question is asking to interpret what the 40th percentile means in the context of an exam score. The correct interpretation for the statement "If the 40th percentile on an exam was 62" is c. 40% of the people had a score at or below 62. This means that 40 percent of the students scored 62 or less on the exam. It does not mean that 62% of people have a certain score or that a certain percentage of people had a score higher than 62, nor does it specify that 40% had a score of 40.