Question
After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $28,350. Assume the population standard deviation is$8,100.
After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $28,350. Assume the population standard deviation is$8,100. Suppose that a random sample of40USC students will be taken from this population. Usez-table.
a.What is the value of the standard error of the mean?
(to nearest whole number)
b.What is the probability that the sample mean will be more than$28,350?
(to2decimals)
c.What is the probability that the sample mean will be within$1,500of the population mean?
(to4decimals)
d.How would the probability in part (c) change if the sample size were increased to150?
(to4decimals)
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