Posted by **kim ** on Tuesday, February 15, 2011 at 8:58am.

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 of all private colleges in the United States?

Answer

- STATISTICS -
**PsyDAG**, Tuesday, February 15, 2011 at 9:46am
To find the mean, add up the values and divide by the number of values.

- STATISTICS -
**Amber**, Sunday, April 15, 2012 at 9:24pm
Private college 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 endowment (in millions of dollars): 60.2, 47.0, 235.1, 490.0, 122.6, 177.5, 95.4, and 220.0. Summary statistics yield a mean of 180.975 and standard deviation of 143.042. Calculate a 95% confidence interval for the mean endowment of all private colleges in the United States.

## Answer this Question

## Related Questions

- Statistics - Private colleges and universities rely on money contributed by ...
- math - A small community college is hoping to raise enough funds to put ...
- Career - Of the following career paths, which is NOT likely to have an ...
- Math - Shawn goes to store and spends 1/3 of money on books. He spends 2/5 of ...
- Finance - You plan to open a retirement account. Your employer will match 50 ...
- more math - Every month, a girl gets allowance. Assume last year she had no ...
- math - 2. James spends 10% of his money for movie; he also spends 20% of his ...
- Civics - Which best describes how the money that individuals have in savings ...
- Civics - Which best describes how the money that individuals have in savings ...
- Civics - Which best describes how the money that individuals have in savings ...

More Related Questions