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. We can consider I and O to be independent random variables.
