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 = 180.975 and S = 143.042.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. A)$180.975_±$94.066 B)$180.975_±$99.123 C)$180.975_±$116.621 D)$180.975_±$119.586

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The Answer of 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 = 180.975 and S = 143.042.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. A)$180.975_±$94.066 B)$180.975_±$99.123 C)$180.975_±$116.621 D)$180.975_±$119.586

Private Colleges and Universities Rely on Money Contributed by Individuals