Statistics for Business & Economics
12th Edition
ISBN: 9781285528830
Author: David R. Anderson
Publisher: Cengage Learning US
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Chapter 3.1, Problem 9E
Endowment income is a critical part of the annual budgets at colleges and universities. A study by the National Association of College and University Business Officers reported that the 435 colleges and universities surveyed held a total of $413 billion in endowments. The 10 wealthiest universities are shown below (The Wall Street Journal, January 27, 2009). Amounts are in billion of dollars.
| University | Endowment ($billion) | University | Endowment ($billion) |
| Columbia | 7.2 | Princeton | 16.4 |
| Harvard | 36.6 | Stanford | 17.2 |
| M.I.T. | 10.1 | Texas | 16.1 |
| Michigan | 7.6 | Texas A&M | 6.7 |
| Northwestern | 7.2 | Yale | 22.9 |
- a. What is the
mean endowment for these universities? - b. What is the
median endowment? - c. What is the
mode endowment? - d. Compute the first and third
quartiles. - e. What is the total endowment at these 10 universities? These universities represent 2.3% of the 435 colleges and universities surveyed. What percentage of the total $413 billion in endowments is held by these 10 universities?
- f. The Wall Street Journal reported that over a recent five-month period, a downturn in the economy has caused endowments to decline 23%. What is the estimate of the dollar amount of the decline in the total endowments held by these 10 universities? Given this situation, what are some of the steps you would expect university administrators to be considering?
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In 2010, the U.S. Congress passed the historic health care reform bill that will provide some type of coverage for the 32 million Americans currently without health care insurance. Just how widespread is the lack of medical coverage? The media claim that the segments of the population most at risk for disease and thus needing healthcare are women, children, the elderly and the poor. The following tables were generated from the U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplement (2011).
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Analysises for reference:
Is being insured or not dependent on gender? Fill in the degrees of freedom and p-value in the output below and draw…
In 2010, the U.S. Congress passed the historic health care reform bill that will provide some type of coverage for the 32 million Americans currently without health care insurance. Just how widespread is the lack of medical coverage? The media claim that the segments of the population most at risk for disease and thus needing healthcare are women, children, the elderly and the poor. The following tables were generated from the U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplement (2011). The tables report the number of uninsured (in thousands) by sex, by age, and by household income
Is being insured or not dependent on the age groups identified in the analysis? Fill in the degrees of freedom and p-value in the output below and draw a clear conclusion indicating which age-groups are more at risk of not being insured if there is a significant relationship
Chapter 3 Solutions
Statistics for Business & Economics
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