Question

The average annual cost (including tuitian, roem, board, books and fees) to attend a pubilic college takes nearly a third of the arnual income of a typical family with college-age childhen (Money, April 2012). At private coleges, the average annual cost is equal to about 60% of the typcai fa may s nome. The following random samples show the annual cost or attending private and public colleges. Data e are in thousands of dollars. Click on the webfile logo to reference the cara WEB file Private Colleges 528 43.245.0333 440 306 45.8 37.8 $05 420 o Public Colleges 20.3 220 28.2 15.6 24.1 28.5 228 25 18.5 256 144 21. Compute the sample mean and sample standard deviation for private and public collepes Round your anseers to two decimal slaces 6.98 52-4.3 b. What is the point estimate of the difference between the two populstion means? Round your answer to one decimal place Interpret ths value in terms of the annual cost of attending private and public colleges 20200 c. Developき95% corfdence interval of the difference betweenthe annual cost of attending private ard pubi1 colleges. snmual cost 15.08 25,323 mare expentive than pubie oleges 95% confidence riarvai, private colleges hrve a population meen annual cost

Answer 1