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  book-img-for-question

Elementary Statistics Picturing The World

ISBN: 9781292260464

7th Global Edition

Authors: Betsy Farber, Ron Larson

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