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1. Using a college cost estimator, the average of campus rental at Penn State is approximately $547 per month. Suppose these rates are roughly normal
1. Using a college cost estimator, the average of campus rental at Penn State is approximately $547 per month. Suppose these rates are roughly normal with a standard deviation of $100. Say you take a random sample of 25 students living off campus.
A. What would be the mean and standard error for the distribution of the sample mean?
B. Using the Z-table, what is the probability that the sample mean would be at least $600?
C. If the size of the sample taken increased, would the probability to part B increase or decrease? Explain your reasoning.
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