Private Colleges and Universities Rely on Money Contributed by Individuals

question 27

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 ± $94.066
• B) $180.975 ± $99.123
• C) $180.975 ± $116.621
• D) $180.975 ± $119.586

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Definitions:

Air Pollution

The presence of harmful substances in the air that can cause health problems for humans, damage the environment, and contribute to climate change.

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The long-term rise in the average temperature of the Earth’s climate system, largely attributed to human activities such as burning fossil fuels and deforestation.

Kyoto Treaty

An international agreement aimed at reducing carbon dioxide emissions and the presence of other greenhouse gases to combat global warming.