A Population of 1,000 Students Spends an Average of $10

question 51

Short Answer

A population of 1,000 students spends an average of $10.50 a day on dinner. The standard deviation of the expenditure is $3. A simple random sample of 64 students is taken.
a.What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean?
b.What is the probability that these 64 students will spend a combined total of more than $715.21?
c.What is the probability that these 64 students will spend a combined total between $703.59 and $728.45?

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Definitions:

Positive Emotions

Pleasant responses to events that promote connections with others, including subjective states such as happiness, joy, euphoria, gratitude, and contentment.

Euphoria

A feeling of intense excitement and happiness.

Connections

Relationships or associations between people, groups, or institutions, often providing benefits such as support or access to information.

Positive Institution

Structures or establishments in society that contribute to the wellbeing and positive functioning of individuals or communities.