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You may need to use the appropriate appendix table or technology to answer this question. 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 44.2 44.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 44.8 38.8 50.5 43.0 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 $ 42.9 thousand sample standard deviation $ 6.87 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 $ 22.3 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.) $ 20.6 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 $ 20600 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.) $ 15.3 X thousand to $ 25.9 x thousand

You may need to use the appropriate appendix table or technology to answer this question. 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 44.2 44.0 33.3 45.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 44.8 38.8 50.5 43.0 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 $ 42.9 thousand sample standard deviation $ 6.87 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 $ 22.3 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.) $ 20.6 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 $ 20600 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.) $ 15.3 X thousand to $ 25.9 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
Problem 1P
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Question C). Please make sure your answer is correct, I have been wrong twice. Thankssssss!!!!

### Analyzing the Cost of Attending College To understand the increasing annual cost of attending college, we look at a comparison of tuition, room, board, books, and fees for private and public colleges. #### Data Overview - **Private Colleges:** - Tuition costs (in thousand dollars): 53.8, 44.2, 44.0, 33.3, 45.0 - Additional costs (in thousand dollars): 31.6, 44.8, 38.8, 50.5, 43.0 - **Public Colleges:** - Tuition costs (in thousand dollars): 20.3, 22.0, 28.2, 15.6, 24.1, 28.5 - Additional costs (in thousand dollars): 22.8, 25.8, 18.5, 25.6, 14.4, 21.8 ### Statistical Analysis (a) **Sample Mean and Standard Deviation for College Types** - **Private Colleges:** - Sample mean: $42.9$ thousand - Sample standard deviation: $6.87$ thousand - **Public Colleges:** - Sample mean: $22.3$ thousand - Sample standard deviation: $4.53$ thousand (b) **Point Estimate of the Difference Between Two Population Means** - The estimated difference is $20.6$ thousand dollars. - This implies that, on average, it costs $20,600 more per year to attend a private college than a public college. (c) **95% Confidence Interval for the Difference in Mean Costs** - The confidence interval for the difference is between $15.3$ thousand and $25.9$ thousand dollars. This analysis provides insight into the cost disparities between private and public institutions, crucial for prospective students and policymakers.
Transcribed Image Text:### Analyzing the Cost of Attending College To understand the increasing annual cost of attending college, we look at a comparison of tuition, room, board, books, and fees for private and public colleges. #### Data Overview - **Private Colleges:** - Tuition costs (in thousand dollars): 53.8, 44.2, 44.0, 33.3, 45.0 - Additional costs (in thousand dollars): 31.6, 44.8, 38.8, 50.5, 43.0 - **Public Colleges:** - Tuition costs (in thousand dollars): 20.3, 22.0, 28.2, 15.6, 24.1, 28.5 - Additional costs (in thousand dollars): 22.8, 25.8, 18.5, 25.6, 14.4, 21.8 ### Statistical Analysis (a) **Sample Mean and Standard Deviation for College Types** - **Private Colleges:** - Sample mean: $42.9$ thousand - Sample standard deviation: $6.87$ thousand - **Public Colleges:** - Sample mean: $22.3$ thousand - Sample standard deviation: $4.53$ thousand (b) **Point Estimate of the Difference Between Two Population Means** - The estimated difference is $20.6$ thousand dollars. - This implies that, on average, it costs $20,600 more per year to attend a private college than a public college. (c) **95% Confidence Interval for the Difference in Mean Costs** - The confidence interval for the difference is between $15.3$ thousand and $25.9$ thousand dollars. This analysis provides insight into the cost disparities between private and public institutions, crucial for prospective students and policymakers.
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