Question

Last years freshman class at big state university totaled 5330 students. Of those, 1266 received a merit scholarship to help offset tuition cost their freshman year. The amount a student received was N(3,458, 473). If the cost of full tuition was 4200 last year, what percentage of students who received a merit scholarship did not receive enough to cover full tuition?

Answer 1

Approximately 38.4% of students who received a merit scholarship did not receive enough to cover full tuition.

Step-by-step explanation:

Total students who received a merit scholarship: 1266

Average scholarship amount received per student: $3,458

Full tuition cost: $4,200

Calculate the difference: $4,200 - $3,458 = $742

Determine the percentage that did not cover full tuition: ($742 / $4,200) * 100 ≈ 17.7%

Calculate the percentage of students who received a merit scholarship but did not receive enough: 100% - 17.7% ≈ 82.3%

Confirm the percentage in terms of the total number of students: (82.3% of 1266) / 5330 * 100 ≈ 38.4%