Some college students use credit cards to pay for school-related expenses. For this population, the amount paid
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Some college students use credit cards to pay for school-related expenses. For this population, the amount paid is normally distributed, with a mean of \($1615\) and a standard deviation of \($550\).
1. What is the probability that a randomly selected college student, who uses a credit card to pay for school-related expenses, paid less than \($1400?\)
2. You randomly select 25 college students who use credit cards to pay for school-related expenses. What is the probability that their mean amount paid is less than \($1400\)?
3. Compare the probabilities from parts 1 and 2.
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Related Book For
Elementary Statistics Picturing The World
ISBN: 9781292260464
7th Global Edition
Authors: Betsy Farber, Ron Larson
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