Respuesta :
Answer:
2.17% of students who received a merit scholarship did not receive enough to cover full tuition
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the zscore of a measure X is given by:
[tex]Z = \frac{X - \mu}{\sigma}[/tex]
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this question, we have that:
[tex]\mu = 3464, \sigma = 489[/tex]
If the cost of full tuition was $4450 last year, what percentage of students who received a merit scholarship did not receive enough to cover full tuition?
This is 1 subtracted by the pvalue of Z when X = 4450. So
[tex]Z = \frac{X - \mu}{\sigma}[/tex]
[tex]Z = \frac{4450 - 3464}{489}[/tex]
[tex]Z = 2.02[/tex]
[tex]Z = 2.02[/tex] has a pvalue of 0.9783.
1 - 0.9783 = 0.0217
2.17% of students who received a merit scholarship did not receive enough to cover full tuition
