Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses....

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is put into a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of 8 private colleges in the United States revealed the following endowments (in millions of dollars): 60.2, 47.0, 235.1, 490.0, 122.6, 177.5, 95.4, and 220.0.

Calculate a 95% confidence interval for the mean endowment of all the private colleges in the United States assuming a normal distribution for the endowments.

		$180.975 ± $116.621
		$180.975 ± $94.066
		$180.975 ± $119.586
		$180.975 ± $99.123

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orchestra answered 2 years ago

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses....

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 60.2, 47.0, 235.1, 490.0, 22.6, 177.5, 95.4, and 220.0. Summary statistics yield x = 180.975 and s = 143.042. Calculate a 99%...

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Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses....

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