For the most recent year available, the mean annual cost to attend a private uni
ID: 3129095 • Letter: F
Question
For the most recent year available, the mean annual cost to attend a private university in the United States was $20,107. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,475.
Ninety-nine percent of all students at private universities pay less than what amount? (Round z value to 2 decimal places and your final answer to the nearest whole number.)
Ninety-nine percent of all students at private universities pay less than what amount? (Round z value to 2 decimal places and your final answer to the nearest whole number.)
Explanation / Answer
mean = 20107
standard dev = 4475
the x = mean + z*standard dev
z for 99% = 2.57
hence x = 20107 + 2.57*4475= 31607.75