The Amount Spent on Textbooks for the Fall Term Was

Multiple Choice

The amount spent on textbooks for the fall term was recorded for a sample of five hundred university students. It was determined that the 75th percentile was the value $500. Which of the following interpretations of the 75th percentile is correct?

A) 75% of the students sampled had textbook costs that exceeded $500.
B) 75% of the students sampled had textbook costs equal to $500.
C) 25% of the students sampled had textbook costs that exceeded $500.
D) The average of the 500 textbook costs was $500.