A student graduated from a 4year college with an outstanding

A student graduated from a 4-year college with an outstanding loan of $9,608, where the average debt is $8,411 with a standard deviation of SI,812. Another student graduated from a university with an outstanding loan of $12,329, where the average of the outstanding loans was $10,356 with a standard deviation of S2,145. Find the corresponding z score for each student. Round z scores to two decimal places.

Solution

Z SCORE = (X-MEAN)/ STD DEV

A)COLLEGE STUDENT = X = 59608

MEAN = 8411

STD DEV = 1812

HENCE Z SCORE = (59608 - 8411) / 1812 = 28.25

B)UNIVERSITY STUDENT = X = 12329

MEAN = 10356

STD DEV = 2145

Z SCORE = (12329 - 10356) / 2145 = 0.91