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The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time.com). The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 53.8 43.2 44.0 34.3 43.0 20.3 22.0 28.2 15.6 24.1 28.5 30.6 45.8 36.8 51.5 42.0 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 $42.52 x thousand sample standard deviation $ 7.18 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.) $ 22.30 $ 4.53 sample mean v thousand sample standard deviation thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private – Public.) $ 8.04 X thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. |x more than the mean annual cost to attend public college We estimate that the mean annual cost to attend private colleges is $ 20.22 (c) Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. (Use Private – Public. Round your answers to one decimal place.) $ 14.9 X thousand to $ 25.4 X thousand

The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time.com). The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 53.8 43.2 44.0 34.3 43.0 20.3 22.0 28.2 15.6 24.1 28.5 30.6 45.8 36.8 51.5 42.0 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 $42.52 x thousand sample standard deviation $ 7.18 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.) $ 22.30 $ 4.53 sample mean v thousand sample standard deviation thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private – Public.) $ 8.04 X thousand Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges. |x more than the mean annual cost to attend public college We estimate that the mean annual cost to attend private colleges is $ 20.22 (c) Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. (Use Private – Public. Round your answers to one decimal place.) $ 14.9 X thousand to $ 25.4 X thousand

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
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The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time.com). The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 53.8 43.2 44.0 34.3 43.0 20.3 22.0 28.2 15.6 24.1 28.5 30.6 45.8 36.8 51.5 42.0 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 $ 42.52 X thousand sample standard deviation $ 7.18 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 $ 22.30 thousand sample standard deviation $ 4.53 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private Public.) $ 8.04 X 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 $ 20.22 x more than the mean annual cost to attend public college (c) Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. (Use Private decimal place.) Public. Round your answers to one $ 14.9 X thousand to $ 25.4 X thousand
Transcribed Image Text:The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time.com). The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 53.8 43.2 44.0 34.3 43.0 20.3 22.0 28.2 15.6 24.1 28.5 30.6 45.8 36.8 51.5 42.0 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 $ 42.52 X thousand sample standard deviation $ 7.18 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 $ 22.30 thousand sample standard deviation $ 4.53 thousand (b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private Public.) $ 8.04 X 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 $ 20.22 x more than the mean annual cost to attend public college (c) Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. (Use Private decimal place.) Public. Round your answers to one $ 14.9 X thousand to $ 25.4 X thousand
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