Probability that their total annual costs exceed

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Assume that the average full time college student in the U.S. requires a total of $10,500 per year to cover the costs of tutition, books and fees with a standard deviation of $1,300. If 50 full time students are randomly sampled in the U.S., what is the probability that their total annual costs for tutition, books and fees exceed $550,000?

Round your answer to 4 decimal places. Remember to round your z-value to 2 decimal places.

To answer the question input only the actual number. Do not include units. Do not give your answer in sentence form -- just include the numerical answer rounded to exactly 4 decimal places.

Reference no: EM13975957

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