oks will be greater $454? Suppose from past d standard deviation is $40. What might you conclude about the student co boolka in on oter? Aner Somplete

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Scenario: If a random sample of 625 students is taken, what is the probability that the average amount of money
spent on books will be greater $454? Suppose from past data they believe the population mean is $450 and the
population standard deviation is $40.
ANSWER: What might you conclude about the student commission's belief that all students spend $450 on
average for books in one semester? Answer in a complete sentence in context including how you came to this
conclusion.
Transcribed Image Text:Scenario: If a random sample of 625 students is taken, what is the probability that the average amount of money spent on books will be greater $454? Suppose from past data they believe the population mean is $450 and the population standard deviation is $40. ANSWER: What might you conclude about the student commission's belief that all students spend $450 on average for books in one semester? Answer in a complete sentence in context including how you came to this conclusion.
Expert Solution
Step 1

From the available information,

Sample size, n=625

Population mean, μ =450

Population standard deviation, σ =40

Compute the probability that the average amount of money spent on books will be greater than 454.

That is, P(x¯ >454)

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