Students who attend Anytown College pay either in-state or out-of-state tuition, depending on where they reside.
The amount, I spent on in-state tuition for a randomly
selected student has a mean of $2,523.75 and a
standard deviation of $1,003.25. The amount, O, spent
on out-of-state tuition for a randomly selected student
has a mean of $3,825.00 and a standard deviation of
$1,126.50
Suppose we randomly select one student who pays in-
state tuition and one student who pays out-of-state
tuition. We can consider I and O to be independent
random variables.
Calculate the standard deviation of the sum s=I+o
Os = $227.69
Os = $1,301.25
os = $1,508.48
Os = $6,348.75