Question: Student loan debt has reached record levels in the United States. In a random sample of 100 individuals who have student loan debt, it was

Student loan debt has reached record levels in the United States. In a random sample of 100
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?

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