After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $27,850. Assume the population standard deviation is $6,500. Suppose that a random sample of 80 USC students will be taken from this population. Use z-table. a. What is the value of the standard error of the mean? 727 (to nearest whole number) b. What is the probability that the sample mean will be more than $27,850? |(to 2 decimals) c. What is the probability that the sample mean will be within $1,000 of the population mean? |(to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 180? (to 4 decimals)

After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $27,850. Assume the population standard deviation is $6,500. Suppose that a random sample of 80 USC students will be taken from this population. Use z-table. a. What is the value of the standard error of the mean? 727 (to nearest whole number) b. What is the probability that the sample mean will be more than $27,850? |(to 2 decimals) c. What is the probability that the sample mean will be within $1,000 of the population mean? |(to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 180? (to 4 decimals)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $27,850. Assume the population standard
deviation is $6,500. Suppose that a random sample of 80 USC students will be taken from this population. Use z-table.
a. What is the value of the standard error of the mean?
727 (to nearest whole number)
b. What is the probability that the sample mean will be more than $27,850?
| (to 2 decimals)
c. What is the probability that the sample mean will be within $1,000 of the population mean?
|(to 4 decimals)
d. How would the probability in part (c) change if the sample size were increased to 180?
(to 4 decimals)

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