13th Edition

ISBN: 8220101456380

Author: Anderson

Publisher: CENGAGE L

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Textbook Question

Chapter 6, Problem 40SE

The NCAA estimates that the yearly value of a full athletic scholarship at in-state public universities is $19,000 (The Wall Street Journal, March 12, 2012). Assume the scholarship value is normally distributed with a standard deviation of $2100.

a. For the 10% of athletic scholarships of least value, how much are they worth?
b. what percentage of athletic scholarships are valued at $22,000 or more?
c. For the 3% of athletic scholarships that are most valuable, how much are they worth?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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Chapter 6, Problem 39SE

Chapter 6, Problem 41SE

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Chapter 6 Solutions

EBK STATISTICS FOR BUSINESS & ECONOMICS

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Solution Summary: The author explains how the NCAA has a full athletic scholarship for in-state public universities yearly with an average of 19,000 with standard deviation 2,100.

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Chapter 6 Solutions