A University System Enrolling Hundreds of Thousands of Students Is

question 49

Short Answer

A university system enrolling hundreds of thousands of students is considering a change in the way students pay for their education.Currently,the students pay $400 per credit hour.The university system administrators are contemplating charging each student a set fee of $7,000 per quarter,regardless of how many credit hours each takes.To see if this proposal would be economically feasible,the administrators would like to know how many credit hours,on the average,each student takes per quarter.A random sample of 250 students yields a mean of 14.1 credit hours per quarter and a standard deviation of 2.3 credit hours per quarter.Suppose the administration wanted to estimate the mean to within 0.1 hours at 95% reliability and assumed that the sample standard deviation provided a good estimate for the population standard deviation.How large a total sample would they need to take?

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Definitions:

Emotional Swings

Rapid and often unpredictable changes in mood, ranging from euphoria to despair.

Negative Consequences

The adverse or harmful outcomes that result from specific actions, decisions, or behaviors.

Chronic Depression

A form of depression, also known as dysthymia or persistent depressive disorder, characterized by a long-term (two years or longer) presence of a depressed mood most of the day, more days than not.

Adaptive Pessimism

A psychological strategy where negative outcomes are anticipated to manage expectations and prepare for challenges.