Check Alter deducting grants based on need, the average cost to attend the University of Southern California (USC) is $25,300. Assume the population standard deviation is $8,400. Suppose that a random sample of 40 USC students will be Use z-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 $25,300? (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 100? (to 4 decimals)

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $25,300. Assume the population standard deviation is $8,400. Suppose that a random sample of 40 USC students will be ta
Use z-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 $25,300?
(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 şize were increased to 100?
(to 4 decimals)
Transcribed Image Text:After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $25,300. Assume the population standard deviation is $8,400. Suppose that a random sample of 40 USC students will be ta Use z-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 $25,300? (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 şize were increased to 100? (to 4 decimals)
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