Student loan debt has reached record levels in the United States. In a random sample of 100
Question:
individuals who have student loan debt, it was found the mean debt was $23,979 with a standard deviation of $31,400. Data based on results from the Federal Reserve Bank of New York.
(a) What do you believe is the shape of the distribution of student loan debt? Explain.
(b) Use this information to estimate the mean student loan debt among all with such debt at the
95% level of confidence. Interpret this result.
(c) What could be done to increase the precision of the estimate?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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a The distribution of student loan debt is likely skewed right becaus...View the full answer
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Related Book For 
Statistics Informed Decisions Using Data
ISBN: 9780134133539
5th Edition
Authors: Michael Sullivan III
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