Private Colleges and Universities Rely on Money Contributed by Individuals

question 68

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.What value will be used as the point estimate for
The mean endowment of all private colleges in the United States?

• A) $1,447.8
• B) $180.975
• C) $143.042
• D) $8

---

Definitions:

Business Contract

A legal agreement between two or more parties that involves the exchange of goods, services, money, or a promise of any of these.

Cultural Dimension

An aspect of a culture that can be measured and compared with other cultures, often used in studying cross-cultural communication and behaviors.

Power Distance

A societal attribute determining the level to which people in a society anticipate and accept that power is allocated unevenly.

Communication Style

The manner in which an individual expresses or conveys information to others, which can vary based on culture, personality, and context.