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High school students across the nation compete in a financial capability challenge each year by taking a National Financial Capability Challenge Exam. Students who score in the top 10 percent are recognized
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High school students across the nation compete in a financial capability challenge each year by taking a National Financial Capability Challenge Exam. Students who score in the top 10 percent are recognized publicly for their achievement by the Department of the Treasury. Assuming a normal distribution, how many standard deviations above the mean does a student have to score to be publicly recognized?

User Pavel Alexeev
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2 votes

Answer:

1.28

Explanation:

Students in the top 10% of the distribution are above the 90th percentile. The number of standard deviations that represents is found using the inverse normal CDF function.

90th Percentile

A suitable calculator, spreadsheet, or probability table can tell you the 90th percentile is 1.28 standard deviations above the mean.

High school students across the nation compete in a financial capability challenge-example-1
User Gschenk
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