(i) A random sample of 16 is selected from a normally distributed population with a mean...

 

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(i) A random sample of 16 is selected from a normally distributed population with a mean of 23.1 and a standard deviation of 5. What is the probability that the mean for the sample is less than 25? (ii) For all May 2022 graduates from the state of Arkansas the average student loan debt was $32,600 with a standard deviation of $5200. If a random sample of 41 students of May 2022 graduates was selected, what is the probability that the average loan-debt for the sample will be more than $20,000? Hint: If you come with a Z value for which the probably is not given in the table, you have to estimate it. To estimate the average student loan debt for all students attending Statesboro University in May 2022, a random sample of 31 students were selected. The resulting average loan debt was $28,000 with a variance of $10,000. Construct a 95% confidence interval for student loan debt for students attending Statesboro University in May 2022 and interpret it. (i) A random sample of 16 is selected from a normally distributed population with a mean of 23.1 and a standard deviation of 5. What is the probability that the mean for the sample is less than 25? (ii) For all May 2022 graduates from the state of Arkansas the average student loan debt was $32,600 with a standard deviation of $5200. If a random sample of 41 students of May 2022 graduates was selected, what is the probability that the average loan-debt for the sample will be more than $20,000? Hint: If you come with a Z value for which the probably is not given in the table, you have to estimate it. To estimate the average student loan debt for all students attending Statesboro University in May 2022, a random sample of 31 students were selected. The resulting average loan debt was $28,000 with a variance of $10,000. Construct a 95% confidence interval for student loan debt for students attending Statesboro University in May 2022 and interpret it.

Answer rating: 100% (QA)

i To find the probability that the mean for the sample is less than 25 we can use the Central Limit Theorem Since the sample size is large n 16 and th... View the full answer