Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. The average student loan of somebody younger than 30 is$24,350.Assume the standard deviation for debt is$3,000per student. Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. The average student loan of somebody younger than 30 is $24,350. Assume the standard deviation for debt is $3,000 per student.a. What is the probability that the sample mean will be less than $25,000 for a sample size of 35 students?b. Identify the symmetrical interval that includes 94% of the sample means if the true population mean is $24,350 per student.c. Answer the question in part a for a sample size of 70. Explain the differences in these two probabilities.a. The probability that the sample mean will be less than $25,000 is.(Type an integer or decimal rounded to four decimal places as needed.)

We have given that. X~N( μ , ?^2 ) μ =24350 , ? = 3000 ,n= 30 Z-score =( x - μ )/?

Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. The average student loan of somebody younger than 30 is $24,350. Assume the standard deviation for debt is $3,000 per student.

Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. The average student loan of somebody younger than 30 is $24,350. Assume the standard deviation for debt is $3,000 per student.

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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