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imple students will bé taken from this population. 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 $29,925? (to 2 decimals) c. What is the probability that the sample mean will be within $1,500 of the population mean? (to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 160? (to 4 decimals)

imple students will bé taken from this population. 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 $29,925? (to 2 decimals) c. What is the probability that the sample mean will be within $1,500 of the population mean? (to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 160? (to 4 decimals)

MATLAB: An Introduction with Applications
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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After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $29,925. Assume the population standard deviation is $6,500. Suppose that a random sample of 50 USC students will be taken from this population. 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 $29,925? (to 2 decimals) c. What is the probability that the sample mean will be within $1,500 of the population mean? (to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 160? (to 4 decimals)
Transcribed Image Text:After deducting grants based on need, the average cost to attend the University of Southern California (USC) is $29,925. Assume the population standard deviation is $6,500. Suppose that a random sample of 50 USC students will be taken from this population. 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 $29,925? (to 2 decimals) c. What is the probability that the sample mean will be within $1,500 of the population mean? (to 4 decimals) d. How would the probability in part (c) change if the sample size were increased to 160? (to 4 decimals)
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