Private Colleges and Universities Rely on Money Contributed by Individuals $\bar { X } = 180.975$

question 52

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 $\bar { X } = 180.975$ 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

---

Definitions:

Telepathy

The purported communication of thoughts or ideas between individuals without using the known senses.

Perceptual Constancy

The brain's ability to perceive objects as unchanging despite variations in the viewing conditions like lighting, angle, or distance.

Closure

The psychological process of seeking resolution or conclusion to an unfinished or traumatic event or experience.

Proximity

The physical or psychological closeness between people, objects, or ideas, often influencing relationships and interactions.