Question
In: Statistics and Probability
Average tuition is $25,000 with a standard deviation of $2,000 if the cost is a mound...
Average tuition is $25,000 with a standard deviation of $2,000 if
the cost is a mound shape 95% of the school tuition with have an
annual tuition between what two amounts
Solutions
Expert Solution
Given,
= 25000 , 
= 2000
We convert this to standard normal as
P( X < x) = P( Z < x -
/
)
We have to calculate x such that P( X < x) = 0.95
95% of the data falls between -1.96 and 1.96
That is
x -
/
= 
1.96
-1.96 < x -
/
< 1.96
Put the values of
and
in above equation and solve for x
-1.96 < x - 25000/ 2000 < 1.96
multiply by 2000 throughout
-3920 < x - 25000 < 3920
21080 < x < 28920
Therefore,
95% of the school tuitions with have annual tuition between $21080 and $28920
orchestra answered 2 years agoRelated Solutions
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