Private Colleges and Universities Rely on Money Contributed by Individuals

question 92

Multiple Choice

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the
College spends only the interest earned by the fund. A recent survey of eight private colleges in the
United States revealed the following endowments (in millions of dollars) : 88.9, 56, 249.3, 497,
124.7, 157.6, 108.9, and 222.8. What value will be used as the point estimate for the mean
Endowment of all private colleges in the United States?

• A)215.029
• B)8
• C)188.15
• D)1505.2

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Definitions:

Strong Acid

An acid that completely dissociates into its ions in water, releasing all of its hydrogen atoms as hydrogen ions.

Acidity

A measure of the ability of a solution to donate hydrogen ions (H+) and thereby lower its pH.

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging typically from 0 (highly acidic) to 14 (highly basic).

pH

A scale used to specify the acidity or basicity of an aqueous solution, where 7 is neutral, values less than 7 are acidic, and values greater than 7 are basic.