Private Colleges and Universities Rely on Money Contributed by Individuals $\pm$

question 121

Multiple Choice

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses.Much of this money is put into a fund called an endowment,and the college spends only the interest earned by the fund.A recent survey of 8 private colleges in the United States revealed the following endowments (in millions of dollars) : 60.2,47.0,235.1,490.0,122.6,177.5,95.4,and 220.0.Summary statistics yield x? =180.975 and S = 143.042 .Calculate a 95% confidence interval for the mean endowment of all the private colleges in the United States assuming a normal distribution for the endowments.

• A)$180.975\(\pm\) $94.066
• B)$180.975\(\pm\) $99.123
• C)$180.975\(\pm\) $116.621
• D)$180.975\(\pm\) $119.586

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Definitions:

Promotion Budget

Financial allocation for marketing and advertising activities aimed at boosting sales or awareness of a product or service.

New Customers

Individuals or organizations that begin to purchase goods or services from a business for the first time.

Annual Promotion Plan

A structured outline of marketing activities and promotions designed for a specific year, aimed at achieving marketing objectives.

B₂B Sales Promotions

Marketing efforts and incentives specifically designed to engage and convert business customers, as opposed to individual consumers, enhancing business sales and relationships.