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

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

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%...

Due to budget cutbacks, colleges and universities across the country are struggling to cut expenses. Frequent...

Due to budget cutbacks, colleges and universities across the country are struggling to cut expenses. Frequent casualties of these money-saving decisions are organized sports teams. Suppose that a fictional college, West Tennessee State (WTS), has identified three teams to eliminate in its effort to cut costs: Men's Lacrosse, Women's Softball, and Men's Diving. A summary of each sports annual revenue and costs was provided in the question below. Revenue for men's lacrosse is $25,600 for women's softball is $37,800 for...

How do private universities and public colleges compare with respect to debt at graduation incurred by...

How do private universities and public colleges compare with respect to debt at graduation incurred by students? The worksheet "CollegeDebt" contains the average debt at graduation incurred by students for 100 private universities and 100 public colleges, as reported by Kiplinger. (Data extracted from “Kiplinger’s Best College Values”) At the 0.05 level of significance, is there a difference in the variance of average graduation debt incurred by students for private universities and public colleges? Be sure to write out the hypotheses...

Because of high tuition costs at state and private universities, enrollments at community colleges have increased...

Because of high tuition costs at state and private universities, enrollments at community colleges have increased dramatically in recent years. The following data show the enrollment (in thousands) for Jefferson Community College for the nine most recent years. Click on the datafile logo to reference the data. Year Period (t) Enrollment (1,000s) 2001 1 6.5 2002 2 8.1 2003 3 8.4 2004 4 10.2 2005 5 12.5 2006 6 13.3 2007 7 13.7 2008 8 17.2 2009 9 18.1 (a)...

Distinguish between the accounting treatment of time-restricted pledges by private and public sector colleges and universities.

Given our current state of the world with COVID and most colleges and universities now operating...

Given our current state of the world with COVID and most colleges and universities now operating in a hybrid or all online model and facing potentially large budget shortfalls, do you think that HE institutions can continue to provide the needed services to disabled students while moving many courses online? In what ways do you anticipate HE institutions will need to change in order continue to provide proper services to disabled students while facing budget shortfalls?

you have been asked to study the mean yearly tuition at private four-year colleges and universities...

you have been asked to study the mean yearly tuition at private four-year colleges and universities across the United States. You are interested in making some decisions concerning this population parameter. You select a random sample of 50 universities from this population. The mean tuition at these universities is found to equal $18,205. You still have reason to believe that the population standard deviation of the tuition amounts is known to equal $9,000. At both the 5% and 10% levels...

Subjects