The attached graph displays the percent of Australian households with owner-occupier household debt for the years of 1993-94 and 2003-04, broken down by the age group of the debtholder. Based on the graph, please answer the questions that follow.
We are not aware of the number of people in each age bracket, so to get the possible range, we will maximize the extreme endsUpper range: The highest % is in age bracket 35-44 yrs, so we take almost the entire of population to be in this bracket. Hence, the max % can go above
55%.
Lower range: The lowest % is in age bracket 65+ yrs, so we take almost the entire of population to be in this bracket. Hence, the min % can go below
2.5%.