Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. much of tis moeny is put int 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 222.0. summary statistics yield x-bar (aka the mean)= 180.975 and s = 143.042.

a.) 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.

b.) calculate a 99% confidence interval for the mean endowment of all the private colleges in the united states assuming a normal distribution for the endowments.

Step-by-step explanation:

Given that private colleges and universities rely on money contributed by individuals and corporations for their operating expenses

A recent survey of 8 private colleges in the United States revealed the following endowments (in millions of dollars)

Mean = 180.975 and std dev s = 143.042

Assuming a normal distribution we have 95% critical value is 1.96 and 99% critical value is 2.58

a) 95% Conf interval = Mean ±1.96* std error

=

Since sample size is very small confidence interval is wider.

b) 99% Conf interval = Mean ±2.58* std error

=

Since sample size is very small confidence interval is wider.

rectangle: 9 1/8 x 4 1/9 = 37 37/72in

parallelogram: b times h= 10.3 x 6.2 = 63.86

trapezoid: a+b/2 times h= 42.5

volume of prism: l times w times h= 36

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