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Private Colleges Public Colleges 52.8 42.2 45.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 45.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decim places.) sample mean $ 42.6 thousand sample standard deviation $ 6.909 thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decima places.) sample mean $ 22.3 thousand sample standard deviation $ 4.532 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private - Public.) $ 20,3 thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. We estimate that the mean annual cost to attend private colleges is $ 20.3 x more than the mean annual cost to attend public college

Private Colleges Public Colleges 52.8 42.2 45.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 45.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decim places.) sample mean $ 42.6 thousand sample standard deviation $ 6.909 thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decima places.) sample mean $ 22.3 thousand sample standard deviation $ 4.532 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private - Public.) $ 20,3 thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. We estimate that the mean annual cost to attend private colleges is $ 20.3 x more than the mean annual cost to attend public college

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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HELP WITH PART B

You may need to use the appropriate appendix table or technology to answer this question. The average annual cost (including tuition, room, board, books, and fees) to attend a public college takes nearly a third of the annual income of a typical family with college-age children.t At private colleges, the average annual cost is equal to about 60% of the typical family's income. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 52.8 42.2 45.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 45.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decimal places.) sample mean $ 42.6 thousand sample standard deviation $ 6.909 thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decimal places.) sample mean $ 22.3 thousand sample standard deviation $ 4.532 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private – Public.) $ 20.3 thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. We estimate that the mean annual cost to attend private colleges is $ 20.3 X more than the mean annual cost to attend public college
Transcribed Image Text:You may need to use the appropriate appendix table or technology to answer this question. The average annual cost (including tuition, room, board, books, and fees) to attend a public college takes nearly a third of the annual income of a typical family with college-age children.t At private colleges, the average annual cost is equal to about 60% of the typical family's income. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 52.8 42.2 45.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 45.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decimal places.) sample mean $ 42.6 thousand sample standard deviation $ 6.909 thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decimal places.) sample mean $ 22.3 thousand sample standard deviation $ 4.532 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private – Public.) $ 20.3 thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. We estimate that the mean annual cost to attend private colleges is $ 20.3 X more than the mean annual cost to attend public college
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