5. If we believe that the population is normally distributed, what is the probability that a randomly selected student will pay under $400 for textbooks in one semester? Mean is S450 and standard deviation is $40. Answer in a complete sentence in context. Work: P( probability statement function typed on calculator Inputs to the function answer

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5. If we believe that the population is normally distributed, what is the probability that a randomly selected student
will pay under $400 for textbooks in one semester? Mean is $450 and standard deviation is $40.
Answer in a complete sentence in context.
Work:
P(
probability statement
function typed on calculator
Inputs to the function
answer
Answer in a complete sentence in context:
Transcribed Image Text:5. If we believe that the population is normally distributed, what is the probability that a randomly selected student will pay under $400 for textbooks in one semester? Mean is $450 and standard deviation is $40. Answer in a complete sentence in context. Work: P( probability statement function typed on calculator Inputs to the function answer Answer in a complete sentence in context:
Expert Solution
Step 1

Given information-

Sample mean, µ = $450

Sample standard deviation, σ = $40

The population is normally distributed.

X ~ N (µ, σ)

X ~ N (450, 40)

We have to find the probability that a randomly selected student will pay under $400.

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