Question: The NCAA estimates that the yearly value of a full athletic scholarship at in-state public universities is $19,000 (The Wall Street Journal, March 12, 2012).

The NCAA estimates that the yearly value of a full athletic scholarship at in-state public universities is $19,000 (The Wall Street Journal, March 12, 2012). Assume the scholarship value is normally distributed with a standard deviation of $2,100.

a. Consider the 10% of athletic scholarships of least value. How much are they worth?

b. What percentage of athletic scholarships are valued at $22,000 or more?

c. Consider the 3% of athletic scholarships that are most valuable. How much are they worth?

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