A report published by the Federal Reserve Bank of New York in 2012 reported the results of a nationwide study of college student debt. Researchers found that the average student loan balance per borrower is $23,300. They also reported that about one-quarter of borrowers owe more than $28,000. Assuming that the distribution of student loan balances is approximately normal.

Requird:
Estimate the proportion of borrowers who owe more than 54,000.

Answers

Answer 1

Answer:

The proportion of borrowers who owe more than 54,000 is 0%.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Researchers found that the average student loan balance per borrower is $23,300.

This means that [tex]\mu = 23300[/tex]

They also reported that about one-quarter of borrowers owe more than $28,000.

This means that the 1 subtracted by the p-value of Z is 0.25 when X = 28000, that is, when X = 28000, Z has a p-value of 0.75, so when X = 28000, Z = 0.675. We use this to find [tex]\sigma[/tex]

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]0.675 = \frac{28000 - 23300}{\sigma}[/tex]

[tex]0.675\sigma = 4700[/tex]

[tex]\sigma = \frac{4700}{0.675}[/tex]

[tex]\sigma = 6963[/tex]

Estimate the proportion of borrowers who owe more than 54,000.

This is 1 subtracted by the p-value of Z when X = 54000. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{54000 - 23300}{6963}[/tex]

[tex]Z = 4.41[/tex]

[tex]Z = 4.41[/tex] has a p-value of 1

1 - 1 = 0

The proportion of borrowers who owe more than 54,000 is 0%.


Related Questions

Plsss help will give brainlest no links or files plss

Answers

Answer:

1: 62

2: 118

3: 62

4: 118

Step-by-step explanation:

1 and 3 are opposite angles so they have the same measure. 2 and 1 are adjacent angles on a linear plane. since a line is 180 degrees and we know that one of the angles on this plane is 62, that means that angle 2 must be 180 - 62 which 118 degrees

2+2 brain time yessir

Answers

believe me it’s definitely 22

Answer:

Step-by-step explanation:

4 is the correct answer

Help plz:)))I’ll mark u Brainliest

Answers

Answer:

4/5

Step-by-step explanation:

Given :

A right angled triangle with sides 24 , 3 and 40 .

And we need to find the value of sinZ .

We know that , sine is the ratio of perpendicular and Hypotenuse. So that ,

[tex]:\implies[/tex] sinZ = p/h

[tex]:\implies[/tex] sin Z = 32/40

[tex]:\implies[/tex] sin Z = 4/5

Hence the renquired answer is 4/5.

Five friends built a marble tower. The marble tower had a curved track. The track was designed so that the marbles would move down the track in a circular path. The track ended on the floor. Each friend predicted how he or she thought the marble would move when it rolled off the end of the track onto the floor. This is what they said:

Answers

Answer:

The best answer is of Keira's.

Step-by-step explanation:

The full question is as follows :

Given - Each friend predicted how he or she thought the marble would move when it rolled off the end of the track onto the floor.

This is what they said:

Magda : '' I think it will roll in circles.''

Soledad : '' I think it will curve for a bit and then straighten out.''

Allen : '' I think it will roll out in one big curve.''

Keira : '' I think it will roll in a straight line,''

Rafael : '' I think it will zigzag for a little while.''

To find - Which friend do you most agree with ?

Proof -

The best answer is Keira's.

The marble having the track will travel in a straight line.

The behavior is true for all objects.

If no outside force act on an object, the object will travel in a straight line at a constant speed.

When the marble leaves the end of the track, it is no longer in contact with the walls of the track.

That is , the marble has no longer a center-pushing force.

According to Newton's First law, an object remains at rest or in uniform motion in a straight line unless acted upon by an external force.

Since, there is no longer a center-pushing force so the marble rolls off the end of the track in a straight line path across the floor.

Represent the following sentence as an algebraic expression, where "a number" is the letter x. You do not need to simplify.
The sum of 7 and the cube of a number.
The sum of 7 and the cube of a number.

Answers

Answer:

Step-by-step explanation:

7 + x³ is the sum of 7 and the cube of a number x

Jennifer has a collection of 1,600 coins. Of the coins, 40% are dated before 1940, 35% are dated from 1940 to 1980, and the rest are dated after 1980. How many coins in Jennifer’s collection are dated after 1980?

Answers

Answer:

Step-by-step explanation:

 40% + 35 % = 80 %    so 20% are dated after 1980

20% is .20 in decimal form

.20 (1600) = 320 coins dated after 1980

 

Evaluate the expression when x= -2.
х2+бх+9​

Answers

Answer:

1

Step-by-step explanation:

x = - 2

x^2 + 6x + 9

= ( - 2 )^2 + 6 ( - 2 ) + 9

= 4 - 12 + 9

= 4 + 9 - 12

= 13 - 12

= 1

A 6-sided die with sides numbered 1 through 6 is tossed. A penny is then tossed. If the penny comes up heads, the value of the die is multiplied by 2. Otherwise, the value of the die is left unchanged.

What is the probability that the outcome is less than 6?

Answers

Answer:

The probability that the outcome is less than 6 is 58.333%.

Step-by-step explanation:

Since a 6-sided die with sides numbered 1 through 6 is tossed, ya penny is then tossed, and if the penny comes up heads, the value of the die is multiplied by 2, but otherwise, the value of the die is left unchanged, to determine what is the probability that the outcome is less than 6 the following calculation must be performed:

(5/6 + 2/6) / 2 = X

(0.8333 + 0.0333) / 2 = X

1.1666666 / 2 = X

0.583333 = X

Therefore, the probability that the outcome is less than 6 is 58.333%.

Let A be the set of all lines in the plane. Define a relation R on A as follows. For every l1 and l2 in A, l1 R l2 ⇔ l1 is parallel to l2. (Assume that a line is parallel to itself). Which of the following is true for R?
A. R is reflexive.
B. R is symmetric.
C. R is transitive.
D. R is neither reflexive, symmetric, nor transitive.

Answers

Answer:

Hence, the relation R is a reflexive, symmetric and transitive relation.

Given :

A be the set of all lines in the plane and R is a relation on set A.

[tex]R=\{l_1,l_2\in A|l_1 \;\text{is parallel to}\; l_2\}[/tex]

To find :

Which type of relation R on set A.

Explanation :

A relation R on a set A is called reflexive relation if every [tex]a\in A[/tex] then [tex](a,a)\in R[/tex].

So, the relation R is a reflexive relation because a line always parallels to itself.

A relation R on a set A is called Symmetric relation if [tex](a,b)\in R[/tex] then [tex](b,a)\in R[/tex] for all [tex]a,b\in A[/tex].

So, the relation R is a symmetric relation because if a line [tex]l_1[/tex] is parallel to the line [tex]l_2[/tex] the always the line [tex]l_2[/tex] is parallel to the line [tex]l_1[/tex].

A relation R on a set A is called transitive relation if [tex](a,b)\in R[/tex] and [tex](b,c)\in R[/tex] then [tex](a,c)\in R[/tex] for all [tex]a,b,c\in A[/tex].

So, the relation R is a transitive relation because if a line [tex]l_1[/tex] s parallel to the line [tex]l_2[/tex] and the line [tex]l_2[/tex] is parallel to the line [tex]l_3[/tex] then the always line [tex]l_1[/tex] is parallel to the line [tex]l_3[/tex].

Therefore the relation R is a reflexive, symmetric and transitive relation.

An office building is 18 meters high. What
calculation would convert its height to
yards? Use 1 meters = 1.09 yards.

Answers

Answer:

19.62 yards

Step-by-step explanation:

18 x 1.09 = 19.62

Quadratics need help making parabola

Answers

Answer:

The equation of the parabola is [tex]y = \frac{1}{3}\cdot x^{2}-\frac{4}{3}\cdot x -4[/tex], whose real vertex is [tex](x,y) = (2, -5.333)[/tex], not [tex](x,y) = (2, -5)[/tex].

Step-by-step explanation:

A parabola is a second order polynomial. By Fundamental Theorem of Algebra we know that a second order polynomial can be formed when three distinct points are known. From statement we have the following information:

[tex](x_{1}, y_{1}) = (-2, 0)[/tex], [tex](x_{2}, y_{2}) = (6, 0)[/tex], [tex](x_{3}, y_{3}) = (0, -4)[/tex]

From definition of second order polynomial and the three points described above, we have the following system of linear equations:

[tex]4\cdot a -2\cdot b + c = 0[/tex] (1)

[tex]36\cdot a + 6\cdot b + c = 0[/tex] (2)

[tex]c = -4[/tex] (3)

The solution of this system is: [tex]a = \frac{1}{3}[/tex], [tex]b = - \frac{4}{3}[/tex], [tex]c = -4[/tex]. Hence, the equation of the parabola is [tex]y = \frac{1}{3}\cdot x^{2}-\frac{4}{3}\cdot x -4[/tex]. Lastly, we must check if [tex](x,y) = (2, -5)[/tex] belongs to the function. If we know that [tex]x = 2[/tex], then the value of [tex]y[/tex] is:

[tex]y = \frac{1}{3}\cdot (2)^{2}-\frac{4}{3}\cdot (2) - 4[/tex]

[tex]y = -5.333[/tex]

[tex](x,y) = (2, -5)[/tex] does not belong to the function, the real point is [tex](x,y) = (2, -5.333)[/tex].

Solve the following system of equations:
x+2y=-4
x-2y=8

Answers

Answer:

x=2   y=-3

Step-by-step explanation:

We first need to isolate x to get x+2y=-4:x=-4-2y

-4-2y-2y=8

simplify:

-4-4y=8.

We can also do the same for y which is -4-4y=8:y=-3

for the x, we can now substitute it to give us:

x=-4-2(-3)

-4-2(-3)=2

x=2

So, our answers are x=2 and y=-3

Answer:

Step-by-step explanation:

x+2y=-4

x-2y=8                       Add

2x = 4                        Divide by 2

2x/2 = 4/2

x = 2

x + 2y = - 4                Substitute 2 for x

2 + 2y = - 4               Subtract 2 from both sides

2y = - 4 - 2

2y = - 6                     Divide by 2

2y/2 = - 6/2

y = - 3

Lincoln High School has 78 seniors, 116 juniors, 119 sophomores, and 107 freshmen. Three student names are chosen randomly without replacement. What is the probability of, without replacement, a senior being chosen first, followed by a sophomore, and followed by a junior?

Answers

Answer:

11/320

Step-by-step explanation:

the probability of a senior being chose first is 22 (seniors) divided my total number of students (80) is .275 percent.

multiplied by the probability of a sophomore being chosen 10/80 which equals .125.

multiply those together and you get your probability. 0.034375 or 11/320

Help me pls, I'm confused ​

Answers

Answer: A B and C

Step-by-step explanation:

D has an area of 15 and A B and C have an area of 12.

Answer: A,B, and C

The explanation is like what the guy said on the top

Please help I will give you brainliest

Answers

Answer:

Answer is 5 3/4

Step-by-step explanation:

Thanks Hope this helps

Can someone help me really please

Answers

Answer:

Step-by-step explanation:

question

Answer:

the tank at the pet store

Step-by-step explanation:

5x4x2 = 40

35<40

The average zinc concentration recovered from a sample of measurements taken in 36 different locations in a river is found to be 2.6 grams per milliliter. Find the 95% and 99% confidence intervals for the mean zinc concentration in the river. Assume that the population standard deviation is 0.3 gram per milliliter.

Answers

Answer:

The 95% confidence interval for the mean zinc concentration in the river is between 1.75 and 3.45 grams per milliliter.

The 99% confidence interval for the mean zinc concentration in the river is between 1.48 and 3.72 grams per milliliter.

Step-by-step explanation:

95% confidence interval:

We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:

[tex]\alpha = \frac{1 - 0.95}{2} = 0.025[/tex]

Now, we have to find z in the Ztable as such z has a pvalue of [tex]1 - \alpha[/tex].

That is z with a pvalue of [tex]1 - 0.025 = 0.975[/tex], so Z = 1.96.

Now, find the margin of error M as such

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

[tex]M = 1.96\frac{2.6}{\sqrt{36}}[/tex]

[tex]M = 0.85[/tex]

The lower end of the interval is the sample mean subtracted by M. So it is 2.6 - 0.85 = 1.75 grams per milliliter.

The upper end of the interval is the sample mean added to M. So it is 2.6 + 0.85 = 3.45 grams per milliliter.

The 95% confidence interval for the mean zinc concentration in the river is between 1.75 and 3.45 grams per milliliter.

99% confidence level:

By the same logic as for the 95% confidence interval, we have that [tex]Z = 2.575[/tex]. So

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

[tex]M = 2.575\frac{2.6}{\sqrt{36}}[/tex]

[tex]M = 1.12[/tex]

The lower end of the interval is the sample mean subtracted by M. So it is 2.6 - 1.12 = 1.48 grams per milliliter.

The upper end of the interval is the sample mean added to M. So it is 2.6 + 1.12 = 3.72 grams per milliliter.

The 99% confidence interval for the mean zinc concentration in the river is between 1.48 and 3.72 grams per milliliter.

100 percent of your income after you retire will probably come from social security and the companies that employed you

A- you get a fat tire on your car

B- you work three jobs in order to pay your bills

C- it cost you $50 to gas up your car this month. But last month it cost you $85

D- it cost you $85 to gas up your car this month. But last month it only cost you $50

Answers

d-it cost you 85 to gas up
your car

7 has been subtracted from the product of x and 7=

Answers

Answer:

7x - 7

Step-by-step explanation:

Product of x and 7 = 7x

7 minus 7x

7x - 7

Hence the expression is :

7x - 7

A sporting goods store has shoes on sale for 20% off the regular price. Brantley finds a pair of shoes with a regular price of $35. He wants to know the sale price of the shoes. 0) Drag the given information into the table to represent the problem. Regular Price % $ Sale Price Discount % % S $ $35 $ ? 20%​

Answers

Answer:

$28

Step-by-step explanation:

Given that :

Regular price = $35

Discount = 20%

Sale price = Regular price - Discount on sale

Discount on sale = 20% * regular price

Discount on sale = 0.2 * $35 = $7

Sale price = $35 - $7 = $28

Answer:

Regular price is 35 and discount is 20% and sale price is ?

Regular price is 35 and the discount is 7 and the sale price is 28

Step-by-step explanation:

I did the I-ready already

An amount of $32,000 is borrowed for 10 years at 5.75% Interest, compounded annually. If the loan is paid in full at the end of that period, how much must be
paid back?
Use the calculator provided and round your answer to the nearest dollar.
5
?

Answers

Answer:

Total cost of the loan $55,969.8.-

Step-by-step explanation:

Giving the following information:

An amount of $32,000 is borrowed for 10 years at 5.75% Interest, compounded annually.

To calculate the total cost of the loan, we need to use the Future Value (FV) formula:

FV= PV*(1 + i)^n

PV= loan

i= interest rate

n= number of periods

FV= 32,000*(1.0575^10)

FV= $55,969.8

The high school is 3.6 inches from the middle school on a map. Each half inch on the map represents 0.4 mile. What is the actual distance between the two schools?
2.88 miles
4.5 miles
7.2 miles
9 miles

Answers

Answer:

2.88 miles

Step-by-step explanation:

because 3.6/.5 = 7.2

then 7.2 × .4 = 2.88

HELP PLEASE!!
Explain the error in the following exercise;
then correct it.

Answers

Answer:

2/1x7/6=14/6=7/3

Step-by-step explanation:

Multiply the 2 by the 7 but Not the 6. So the second number is 14/6, not 14/12.

‘Then simplify 14/6 to 7/3

The measure of an angle is 89. Find the measure of its supplement
a. 91
b. 89
c. 90
d. 80

Answers

Answer:

A. 91

Step-by-step explanation:

Supplementary angles are 2 angles that when added together, equal 180 degrees. 91+89=180

Hope this helps. here are free cookies --->

The number of homeruns hit by each player on the Bobcats baseball team is listed below.
Which measure of center best describes the approximate number of homeruns hit by a typical Bobcat player?
12, 8, 4, 3, 3, 2, 2, 2, 0

Mode

Range

Median

Mean

Answers

Answer:

mean

Step-by-step explanation:

What is equavalent 3 11/40.
The best estimate close to this answer 3 11/40
A. 2 1/2
B. 3 Plzz help me
C. 3 1/2
D. 4

Answers

Answer:

C. 3 1/2

Step-by-step explanation:

Estimate the fraction part of the number.

11/40 > 10/40 = 1/4

We can estimate the fraction part as 1/2 since its greater than 1/4.

The number becomes 3 1/2.

Best choice is C

Answer:

11/40>10/40=1/4 is a part of ½

so

best estimate is 3 ½.

100 points
(algebra one)
describe and correct the error in comparing the graphs

Answers

Answer:

The error made is that the graph of [tex]y=x^{2} +3[/tex] is a vertical translation up by 3, instead of down.

Step-by-step explanation:

Exponential functions, when they are graphed, use the function [tex]f(x)=a(x-h)^{2} +k[/tex].

In the equation, k expresses how much the graph shifts vertically. In this case, the function shifts vertically up by 3 from the parent function, [tex]y=x^{2}[/tex]. So, the translation is actually 3 units up compared to the graph of [tex]y=x^{2}[/tex].

Hope this helps and have an amazing day!! ❤

The data are from a small moving company that moves people from urban apartment buildings to other urban apartment building in the same or different cities. The company needs assistance in predicting the labor hours for jobs so they can provide more accurate price quotes.
Run two separate regressions using the data in the sections of the spreadsheet titled Regression Model 1 and Regression Model 2. Use a 95% confidence level.
Fill in all the blanks below. Do not round any numbers except for when entering them in the blanks for this quiz, round these numbers to exactly 2 decimal places even if the number has only one or no decimal places. Use commas to separate thousands (e.g., 1225 should be entered as 1,225.00).
Regression Model 1
R Square expressed as a percentage rounded and carried out to two decimal places is ________% and Adjusted R Square expressed as a percentage rounded and carried out to two decimal places is _______%. Refer to the spreadsheet embedded in your Module 14 Regression document I provided you to see the calculation and format for answering this next question. The gap between R Square and Adjusted R Square expressed as a percentage rounded and carried out to two decimal places is 0.______%.
The overall regression model (was / was not) _______ significant.
Using square footage of 1,500 and mileage of 92, the model estimates that ______ hours of labor would be required, with a margin of error of _________ hours.
Regression Model 2
R Square expressed as a percentage rounded and carried out to two decimal places is _______% and Adjusted R Square expressed as a percentage rounded and carried out to two decimal places is _______%. Refer to the spreadsheet embedded in your Module 14 Regression document I provided you to see the calculation and format for answering this next question. The gap between R Square and Adjusted R Square expressed as a percentage rounded and carried out to two decimal places is 0.________%.
The overall regression model (was / was not) __________ significant.
Using square footage of 1,500, mileage of 92, and floors of 71, the model estimates that _________ hours of labor would be required, with a margin of error of ________ hours.
Model Selection
Because the R Square is (higher / lower) _________ in regression model 1 than in regression model 2 and the gap between R Square and Adjusted R Square is (smaller / larger) in regression model 1 than in regression model 2 _________ and the margin of error of the estimated labor hours is (smaller / larger) _________ in regression model 1 than in regression model 2 , we would characterize regression model (1 or 2) ___________ as being the better model.


Answers

Answer:

I wish I can read all the text

50 POINTS PLEASE HELP
A normal work day for Carl is from 8:00 a.m. to 4:30 p.m. Carl wants to figure out the degree measure that the hour hand makes while he is at work. Carl believes that if he divides 360 by 12 and multiplies the result by 8.5 he will have the correct degrees the hour hand moves. Is Carl correct? If not, choose the appropriate explanation.
A
Yes, Carl is correct. The process he takes will give him the correct degrees the hour hand moves.

B
No, Carl is incorrect. He must take the number he ends up with and subtract it from 360.

C
No, Carl is incorrect. The hour hand will go around the clock 360 degrees.

D
No, Carl is incorrect. He must first multiply 360 by 12 and then divide by 8.5.

Answers

Answer:

The answer is B brainliest?

Step-by-step explanation:

Suppose that only 2 percent of all people are geniuses. If an IQ test indicates that Albert is a genius, but the test is only accurate 90 percent of the time, then the probability that Albert really is a genius is roughly:

Answers

Answer:

P = 1,8 %

Step-by-step explanation:

From the whole population, only 2% are geniuses. But test results,              are accurate 90 %. So the probability that Albert really is a genius is:

P = 0,02 * 0,9

P  = 0,018      or    P = 1,8 %