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April 20, 2014

Homework Help: Statistics (Math)

Posted by karen on Saturday, October 13, 2012 at 3:27am.

A government report looked at the amount borrowed for college by students who graduated in 2000 and had taken out student loans. The mean amount was = $ 17 , 776 and the standard deviation was s = $12,034. The quartiles were Q 1 = $9900, M = $15,532, and Q 3 = $22,500.

The right skew pulls the standard deviation up. So a Normal distribution with the same mean and standard deviation would have a third quartile larger than the actual Q 3. Find the third quartile of the Normal distribution with μ = $17,776 and σ = $12,034 and compare it with Q 3 = $22,500.

i know the answer is Q3 would be $25,838.78. This is a lot larger than our value of Q3 ($22,500).. but how what do i do to get that answer? thanks

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