Question

In a certain city with a working population of 10,500 , 8925 people and less than $75,000 per year what is a percentile rank of someone who earns $75,000 per year

Answer 1

The percentile rank of someone who earns $75,000 per year is the 85th percentile.

Explanation:

Meaning of percentile:

When a value V is said to be in the xth percentile of a set, x% of the values in the set are lower than V and (100-x)% of the values in the set are higher than V.

In this question:

Working population of 10,500

8,925 people earn less than $75,000 per year.

8925/10500 = 0.85

0.85*100 = 85

The percentile rank of someone who earns $75,000 per year is the 85th percentile.