Question

The average annual cost (incduding tuition, room, board, boeks and fees) to attend a public college takes nearly a third of the annual income of a typical family with college-age children of attending private and public colleges. Data are in thousands of dollars. Click on the datafile logo to reference the data s the ana al cost O Money, April 2012 At private colleges, the average annual cost is equal to about 60% of the typical famly's income. The tolle ing raad m samples si DATA Private Colleges file 33.3 52.8 30.6 43.2 45.8 45.0 37.8 50.5 44.0 42.0 Public Colleges 20.3 220 28.2 156 24.1 28.5 22.8 258 18.5 25.6 14.4 21.8 a. Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. S2 b. What is the point estimate of the diference between the two population means? Round your answer to one decimal place. Interpret this value in terms of the annual cost of attending private and public colleges c. Develop a 95% confidence interval of the difference between the annual cost of attending private and pubic coleges. Round your answer to hundreds use r table. From 95% confidence interval, private colleges have a population mean annual cost mc is more asen which is more expensive than public colleges

Answer 1

22-3 n2-1 The mean annual cost ta atend privake aes Colleges s 20 200 moitlan the mean annuot Cast to attevsl public Colleges belween annual cost al Prate avl pubdlc offesg ni 20 2 ±(2.15),(6492)2 + (433) 0 Since too5. te citiat vaiue e) 20.2 ± S,S -X148 to 25B) a.e a population wican amual (o14,8 15, 400 more ex pengive tlant pubic olleses