High school students across the nation compete in a financial capability challenge each year by taking a National Financial Capability Challenge Exam. Students who score in the top 8 percent are recognized publicly for their achievement by the Department of the Treasury. Assuming a normal distribution, how many standard deviations above the mean does a student have to score to be publicly recognized? Round your answer to 2 decimal places.)

The correct answer is that a student have to score 1.41 standard deviations above the mean to be publicly recognized.

Step-by-step explanation:

For answering the question, we don't know the score mean of the National Financial Capability Challenge Exam and neither the population or number of students who take the exam. The only information provided is that the public recognition in this normal distribution is only for students that scores in the top 8%. In other words for students above 92% of the population.

With this information, we can go to a Z Score Table and check that for being on the top 8% (above the 92% of any population), your result must be 1.405 standard deviations above the mean.

Rounding the answer to 2 decimal places, it's 1.41 standard deviations above the mean.