Suppose the population of all public Universities shows the annual parking fee per...

BravermaCM26

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Hello,

I am a business student at University of Wisconsin-Whitewater. It would be much appreciated if you could help with this central limit theorem problem. I really struggle with this class, but I'm trying!

Suppose the population of all public Universities shows the annual parking fee per student is $110 with a standard deviation of $18. If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of more than $115 is _______.
 
I'm glad you have been trying but what have you tried here? Do you know what a "standard deviation" is? And have you really copied the problem correctly? You say "the annual parking fee per student is $110 with a standard deviation of $18." If the annual parking fee per student is $110, then there can't be any "standard deviation"! I would have expected it to say, rather, "the annual parking fee per student is normally distributed with a mean of $110 with a standard deviation of $18". Now, do you know what a "normal distribution" is?
 
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