The increasing annual cost (including tuition, room, board, books and fees) to attend college ) to attend college has been widely discussed in many publications including Money magazine. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Click on the datafile logo to reference the data. Round degrees of freedom to the preceding whole number. 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 a. Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. x1 = s1 = x2 = s2 = b. What is the point estimate of the difference between the two population means? Round your answer to one decimal place. Interpret this value in terms of the annual cost of attending private and public colleges. $ c. Develop a 95%confidence interval of the difference between the mean annual cost of attending private and public colleges. 95% confidence i
The increasing annual cost (including tuition, room, board, books and fees) to attend college ) to attend college has been widely discussed in many publications including Money magazine. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Click on the datafile logo to reference the data. Round degrees of freedom to the preceding whole number.
| 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 |
a. Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places.
x1 =
s1 =
x2 =
s2 =
b. What is the point estimate of the difference between the two population means? Round your answer to one decimal place.
Interpret this value in terms of the annual cost of attending private and public colleges. $
c. Develop a 95%confidence interval of the difference between the mean annual cost of attending private and public colleges.
95% confidence interval, private colleges have a population mean annual cost $ to $ more expensive than public colleges.
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