You and your partner decide to buy a house. The house costs £325,000. It will take 25 years
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Answer:
The value that represents the 90th percentile of scores is 678.
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
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 pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
Find the value that represents the 90th percentile of scores.
This is the value of X when Z has a pvalue of 0.9. So X when Z = 1.28.
The value that represents the 90th percentile of scores is 678.