Annual Cost of College. The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed in many publications including Money magazine. The Excel file "CollegeCosts" shows random samples of the annual cost of attending private and public colleges. Data are in thousands of dollars. a. Do you use a T or a normal distribution? (Hint: Do you know the population standard deviation of annual costs for both types of colleges?) b. Are the samples matched or independent? (Hint: Are the samples made up of the same set of students?) c. At the 5% level of significance, test whether there is a difference between the mean annual cost of attending private and public colleges. (Hint: notice you are testing for difference, not an increase or decrease. That should tell you whether you are to do a two-tail or one-tail test

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
100%

Annual Cost of College. The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed in many publications including Money magazine. The Excel file "CollegeCosts" shows random samples of the annual cost of attending private and public colleges. Data are in thousands of dollars.

a. Do you use a T or a normal distribution? (Hint: Do you know the population standard deviation of annual costs for both types of colleges?)

b. Are the samples matched or independent? (Hint: Are the samples made up of the same set of students?)

c. At the 5% level of significance, test whether there is a difference between the mean annual cost of attending private and public colleges. (Hint: notice you are testing for difference, not an increase or decrease. That should tell you whether you are to do a two-tail or one-tail test).

Private
52.8
43.2
45.0
33.3
44.0
30.6
45.8
37.8
50.5
42.0
Public
20.3
22.0
28.2
15.6
24.1
28.5
22.8
25.8
18.5
25.6
14.4
21.81
Transcribed Image Text:Private 52.8 43.2 45.0 33.3 44.0 30.6 45.8 37.8 50.5 42.0 Public 20.3 22.0 28.2 15.6 24.1 28.5 22.8 25.8 18.5 25.6 14.4 21.81
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

This is very helpful, thank you! Could you please share the excel fomulas used to acheve this?

Solution
Bartleby Expert
SEE SOLUTION
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman