For the most recent year available, the mean annual cost to attend a private university

Chapter 0, Problem 28

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QUESTION:

For the most recent year available, the mean annual cost to attend a private university in the United States was $26,889. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,500. Ninety-five percent of all students at private universities pay less than what amount?

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QUESTION:

For the most recent year available, the mean annual cost to attend a private university in the United States was $26,889. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,500. Ninety-five percent of all students at private universities pay less than what amount?

ANSWER:

Step 1 of 3

Mean annual cost of private university is  and the standard deviation is .

Let  be the annual cost.

Now,

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