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 follovwing 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 vhole number. DATA File 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. 42.50 E2 = 22.30 O S1 = 6.98 S2 = 4.53 b. What is the point estimate of the difference between the two population means? Round your answer to one decimal place. 20.2 Interpret this value in terms of the annual cost of attending private and public colleges. $ 20200 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 $ 14.88 to $ 25.52 more expensive than public colleges.

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The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.

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It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.

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A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.