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. Summary statistics yield x = 180.975 and s = 143.042. A 95% confidence interval for the mean endowment of all the private colleges in the United States is:
Given that, sample size (n) = 8, sample mean = 180.975 and
sample standard deviation (s) = 143.042
Degrees of freedom = 8 - 1 = 7
t-critical value at significance level of 0.05 with 7 degrees of freedom is,
Excel Command : =TINV(0.05, 7) = 2.365
The 95% confidence interval for the population mean is,
Therefore, a 95% confidence interval for the mean endowment of all the private colleges in the United States is (61.3699, 300.5801).
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 eight 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. Summary statistics yield - 180975 and 103012. Assuming the involved population is approximately normal, calculate a 99%...
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 eight private colleges in the United States revealed the following endowments (in millions of dollars): 74.8, 53.3, 242.2, 499.2, 124.7, 151.2, 92.7, and 211.4. What value will be used as the point estimate for the mean endowment...
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): 81.8, 55, 245.7, 499.9, 116.1, 156.3, 107.3, and 211.9. What value will be used as the point estimate for the mean endowment...
12 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 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. Atrecent survey of 8 private colleges in the United States revealed the following endowments (in millions of 490.0, 122.6, 177.5, 95.4, and 220.0. What...
Question 2 4 pts 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): 81.8, 55, 245.7, 499.9, 116.1. 156.3, 107.3, and 211.9. What value will be used as the point estimate...
Private and public colleges and universities, including LSU, rely on money contributed by individuals, corporations, and foundations for both salaries and 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 random sample of 9 college endowments drawn from the list of endowments in the Chronicle of Higher Education Almanac (2010) yielded the following statistics (in millions of dollars): Sample mean x = 1.32,...
University Endowments (Questions 14 16) 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 revealed the following endowments (in millions of dollars): 75.1, 53, 249.9,497.2, 114.4,167.8,110.1, and 224.8. 14. What value will you used as an unbiased point estimate for the standard deviation...
1. Endowment funds. Operating expenses in U.S. private and public colleges are funded through individual, corporation, and foundation contributions (a.k.a. donations). Much of this money is put into an endowment fund, and the college spends only the interest earned by the fund. A random sample of sixteen college endowments was drawn from the list of endowments in the Chronicle of Higher Education Almanac (Sept. 2, 1996). The endowments (in millions of dollars) were recorded and are ready to be analyzed....