1)We are given that the average amount spent on textbooks by all incoming freshmen was $400 with a standard deviation of $25 . The sampling distribution of the sample mean for randomly selected samples of 100 freshmen has a standard deviation of $2.50. Which of the following is the correct interpretation of the population standard deviation compared to the sampling distribution's standard deviation?

A)The population standard deviation of $25 gives the variation in amount spent amongst all freshmen. The sampling distribution's standard deviation of $2.50 gives the variation in the average amount spent amongst all samples of 100 freshmen.

B)The population standard deviation of $25 gives the variation in the average amount spent amongst all samples of 100 freshmen. The sampling distribution's standard deviation of $2.50 gives the variation in amount spent amongst all freshmen.

2)Forty percent (40% or 0.40, as a proportion) of all cars owned by residents of Lordstown, OH and the surrounding area are the Chevrolet brand. If a random sample of 81 car owners is selected in that area, then the sampling distribution of the sample proportion of those who own a Chevrolet brand car will be centered around 0.40 (40%) with a standard deviation of:

A).09 or 9%

B).054 or 5.4%

C).946 or 94.6%

D).049 or 4.9%

3)A kitchen cabinet business has primarily homeowners as customers, but also has a few customers that are developers who build multi-unit condominiums. Overall, the average sale is $15,000, with a median sale of $10,000 and a standard deviation of $4,800. The standard deviation of the mean value for samples of 100 customers would be which of the following?

A)$4,800

B)$480

C)$48

D)$4.80

4)Twenty percent (20%) of all students who live on campus at Penn State's University Park campus have a car that they have registered to park in one of the University's parking lots. You randomly select 100 students who live on campus and find that 24 of the 100 have a car registered to park in one of the University's parking lots. What is the standard score (i.e. Z score) of your sample proportion?

A)+0.24

B)+ 1.00

C)-1.00

D)-0.24