Question 7.92

92. Student Debt. The Project on Student Debt published a study3 in which they found that the mean amount of student debt owed by American college students was . Assume a standard deviation of . Suppose we take a sample of students. Assume the distribution is normal.

  1. Find the mean of the sampling distribution and the standard error .
  2. Calculate the probability that the sample mean student debt will be greater than $32,400.
  3. Compute .