Question
You may need to use the appropriateappendix tableortechnologyto answer this question. After deducting grants based on need, the average cost to attend the University of
You may need to use the appropriateappendix tableortechnologyto answer this question.
After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $27,175. Assume the population standard deviation is $7,400. Suppose that a random sample of54USC studentswill be taken from this population.
(a)
What is the value of the standard error of the mean? (Round your answer to the nearest whole number.)
$
(b)
What is the probability that the sample mean will be more than $27,175?
(c)
What is the probability that the sample mean will be within $1,000 of the population mean? (Round your answer to four decimal places.)
(d)
What is the probability that the sample mean will be within $1,000 of the population mean if the sample size were increased to 100? (Round your answer to four decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started