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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 52.8 42.2 46.0 32.3 44.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 46.8 36.8 51.5 41.0 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 $ thousand sample standard deviation $ 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 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.) $ 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 $ 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 - Public. Round your answers to one decimal place.) $ thousand to $ 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 52.8 42.2 46.0 32.3 44.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 46.8 36.8 51.5 41.0 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 $ thousand sample standard deviation $ 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 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.) $ 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 $ 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 - Public. Round your answers to one decimal place.) $ thousand to $ 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
Problem 1P
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### The Increasing Annual Cost of College Education 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. #### Annual Cost Data: **Private Colleges**: - 52.8 - 42.2 - 46.0 - 32.3 - 44.0 - 31.6 - 46.8 - 36.8 - 51.5 - 41.0 **Public Colleges**: - 20.3 - 22.0 - 28.2 - 15.6 - 24.1 - 28.5 - 22.8 - 25.8 - 18.5 - 25.6 - 14.4 - 21.8 #### (a) Compute the Sample Mean and Standard Deviation **For Private Colleges (in thousand dollars)**: - Sample mean: **$ _______ thousand** - Sample standard deviation: **$ _______ thousand** **For Public Colleges (in thousand dollars)**: - Sample mean: **$ _______ thousand** - Sample standard deviation: **$ _______ thousand** #### (b) Point Estimate of the Difference Between Population Means - **Point estimate**: \( \_\_\_\_\_\_\_ \) thousand dollars **Interpretation**: We estimate that the mean annual cost to attend private colleges is \( \_\_\_\_\_\_\_ \) thousand dollars more than the mean annual cost to attend public colleges. #### (c) 95% Confidence Interval for the Difference Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. **Confidence Interval**: - From **$______ thousand** - To **$______ thousand** ### Explanation of the Graphs and Tables: The table provided consists of the annual costs for a selection of private and public colleges, measured in thousands of dollars. This data will allow for the computation of statistical measures such as mean and standard deviation, comparing the financial burden of attending different types of institutions. Additionally, part (b) and (c) focus on interpreting the difference and estimating this difference with a confidence interval, respectively.
Transcribed Image Text:### The Increasing Annual Cost of College Education 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. #### Annual Cost Data: **Private Colleges**: - 52.8 - 42.2 - 46.0 - 32.3 - 44.0 - 31.6 - 46.8 - 36.8 - 51.5 - 41.0 **Public Colleges**: - 20.3 - 22.0 - 28.2 - 15.6 - 24.1 - 28.5 - 22.8 - 25.8 - 18.5 - 25.6 - 14.4 - 21.8 #### (a) Compute the Sample Mean and Standard Deviation **For Private Colleges (in thousand dollars)**: - Sample mean: **$ _______ thousand** - Sample standard deviation: **$ _______ thousand** **For Public Colleges (in thousand dollars)**: - Sample mean: **$ _______ thousand** - Sample standard deviation: **$ _______ thousand** #### (b) Point Estimate of the Difference Between Population Means - **Point estimate**: \( \_\_\_\_\_\_\_ \) thousand dollars **Interpretation**: We estimate that the mean annual cost to attend private colleges is \( \_\_\_\_\_\_\_ \) thousand dollars more than the mean annual cost to attend public colleges. #### (c) 95% Confidence Interval for the Difference Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. **Confidence Interval**: - From **$______ thousand** - To **$______ thousand** ### Explanation of the Graphs and Tables: The table provided consists of the annual costs for a selection of private and public colleges, measured in thousands of dollars. This data will allow for the computation of statistical measures such as mean and standard deviation, comparing the financial burden of attending different types of institutions. Additionally, part (b) and (c) focus on interpreting the difference and estimating this difference with a confidence interval, respectively.
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