Question

Using a college cost estimator, the average of campus rental at Penn State is approximately $547...

Using a college cost estimator, the average of campus rental at Penn State is approximately $547 per month. Suppose these rates are roughly normal with a standard deviation of $100. Say you take a random sample of 25 students living off campus.

A) (5 points) What would be the mean and standard error for the distribution of the sample mean?

B) (5 points) What is the probability that the sample mean would be at least $600?

C) (5 points)What is the probability that the rent for a randomly selected student would be at least $600?

C) (5 points) Explain the reason for discrepancy between the two probabilities you calculated in parts (B) and  (C).

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
18. The average loan debt for college seniors is $20,262. If the debt is normally distributed...
18. The average loan debt for college seniors is $20,262. If the debt is normally distributed with a standard deviation of $5100, find these probabilities: (3 points each) Find the probability that a randomly selected senior owes at least $21,000.   Find the probability that the mean debt from a sample of 20 seniors falls between $20,000 and $21,000. (3 points) The average weight of a package of rolled oats is supposed to be at least 18 ounces. A sample of...
Question 22  Applying to College You ask an SRS of 1500 college students whether they applied for...
Question 22  Applying to College You ask an SRS of 1500 college students whether they applied for admission to any other college.Suppose that in fact 35% of all college students applied to colleges besides the one they are attending. (That’s close to the truth.) The sampling distribution of the proportion of your sample who say “Yes” is approximately Normal with mean 0.35 and standard deviation 0.01. Choose the best answer for each problem below. Answers may be use once, more than...
Question 1: At the local community college it has been reported the average age of first...
Question 1: At the local community college it has been reported the average age of first year college students is 20 years of age with a standard deviation of 7.2 years. As a college professor you believe it’s less. To test your claim, you take a random sample of 200 students, the average age 19.4 years. At an alpha of 0.02 what do you conclude? (1 point each for a total of 4 points) a) Ho:                                              ; Ha:                                 ...
The college bookstore tells prospective students that the average cost of its textbooks for one quarter...
The college bookstore tells prospective students that the average cost of its textbooks for one quarter is $180 with a population standard deviation of $22.50. A group of smart statistics students thinks that the average cost is higher. In order to test the bookstore’s claim against their alternative, the students will select a random sample of size 35. Assume that the mean from their random sample is $185.25. Perform a hypothesis test with α = 0.05 and state your conclusion....
To study the average price of living spaces in New York City, you collect data on...
To study the average price of living spaces in New York City, you collect data on the monthly rent of 30 houses in the city.  You find a sample average rent cost of $565.63 with a standard deviation of $697.61.  Use this information to construct a 99% confidence interval for the true mean rent cost in this area of New York City.  Show all work.  You do notneed to interpret the interval. (5 points) 11. It’s a fact that not everyone can roll their...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean always equals the population mean. The average sample mean, over all possible samples, equals the population mean. The sample mean will only vary a little from the population mean. The sample mean has a normal distribution. 2.Which of the following statements is CORRECTabout the sampling distribution of the sample mean: The standard error of the sample mean will decrease as the sample size increases....
(1) To estimate the mean height μμ of male students on your campus, you will measure...
(1) To estimate the mean height μμ of male students on your campus, you will measure an SRS of students. Heights of people of the same sex and similar ages are close to Normal. You know from government data that the standard deviation of the heights of young men is about 2.8 inches. Suppose that (unknown to you) the mean height of all male students is 70 inches. (a) If you choose one student at random, what is the probability...
Suppose we have the following paired observations of variables X and Y: X         Y 18        40...
Suppose we have the following paired observations of variables X and Y: X         Y 18        40 14        30 20        20 22        20             19        10             27        0 Calculate the values of the sample covariance and sample correlation between X and Y. Using this information, how would you characterize the relationship between X and Y?             (12 points) Suppose X follows a normal distribution with mean µ = 50 and standard deviation σ = 5. (10 points) What is the...
1. The average number of minutes spent per day using social media by a population of...
1. The average number of minutes spent per day using social media by a population of college sophomores is 29.6 minutes. If we take a random sample of size n = 87 from this population and find that the sample standard deviation is 7.3 minutes, we know the sampling distribution of the sample mean in this case would have a standard deviation equal to A. 4.05 minutes. B. 1.60 minutes. C. 0.78 minutes. D. 7.30 minutes. E. 3.17minutes. 2. Return...
1.A hypothetical population consists of eight individuals ages 14, 15, 17, 18, 19, 24, 25, and...
1.A hypothetical population consists of eight individuals ages 14, 15, 17, 18, 19, 24, 25, and 30 years. (Enter your answers to three decimal places.) (a) What is the probability that a person in this population is a teenager? (b) What is the probability of selecting a participant who is at least 20 years old? (c) What is the probability of selecting a participant older than 30? Note that 8 is the sample space for this population. 2) Researchers often...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT