Answer:
$12424
Step-by-step explanation:
Given that:
Mean (μ) = $16,125, Standard deviation (σ) = $7,875.
The z score corresponding to the 32nd percentile from the normal distribution table is -0.47. That means that the z score of -0.47 = 0.32 = 32nd percentile.
The z score is given by the equation:
[tex]z=\frac{x-\mu}{\sigma}[/tex], where x is the raw score
Substituting the values and calculating for x:
[tex]z=\frac{x-\mu}{\sigma} \\-0.47=\frac{x-16125}{7875}\\ x-16125=-3701.25\\x=-3701.25+16125=12423.75\\[/tex]
x ≈ 12424
The debt corresponding to the 32nd percentile is $12424
