Answered: The increasing annual cost (including…

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** The rising annual cost (including tuition, room, board, books, and fees) of attending college has been widely discussed in various publications, including *Money* magazine. Below are random samples showing the annual cost of attending private and public colleges. These costs are presented in thousands of dollars. ### Data **Private Colleges:** - 52.8, 43.2, 45.0, 33.3, 44.0 - 30.6, 45.8, 37.8, 50.5, 42.0 **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 ### Analysis **a.** Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. - $\bar{x_1} =$ (for Private Colleges) - $\bar{x_2} =$ (for Public Colleges) - $s_1 =$ (for Private Colleges) - $s_2 =$ (for Public Colleges) **b.** Determine the point estimate of the difference between the two population means. Round your answer to one decimal place. - Difference = $ Interpret this value in terms of the annual cost of attending private and public colleges. **c.** Develop a 95% confidence interval for the difference between the mean annual cost of attending private and public colleges. According to the 95% confidence interval, private colleges have a population mean annual cost $_____ to $_____ more expensive than public colleges. **Instructions**: Click on the "Datafile" logo for reference data. Ensure degrees of freedom are rounded to the nearest whole number.$

Transcribed Image Text:**The Increasing Annual Cost of College** The rising annual cost (including tuition, room, board, books, and fees) of attending college has been widely discussed in various publications, including *Money* magazine. Below are random samples showing the annual cost of attending private and public colleges. These costs are presented in thousands of dollars. ### Data **Private Colleges:** - 52.8, 43.2, 45.0, 33.3, 44.0 - 30.6, 45.8, 37.8, 50.5, 42.0 **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 ### Analysis **a.** Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. - $\bar{x_1} =$ (for Private Colleges) - $\bar{x_2} =$ (for Public Colleges) - $s_1 =$ (for Private Colleges) - $s_2 =$ (for Public Colleges) **b.** Determine the point estimate of the difference between the two population means. Round your answer to one decimal place. - Difference = $ Interpret this value in terms of the annual cost of attending private and public colleges. **c.** Develop a 95% confidence interval for the difference between the mean annual cost of attending private and public colleges. According to the 95% confidence interval, private colleges have a population mean annual cost $_____ to $_____ more expensive than public colleges. **Instructions**: Click on the "Datafile" logo for reference data. Ensure degrees of freedom are rounded to the nearest whole number.

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