Private Colleges and Universities Rely on Money Contributed by Individuals

question 134

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 = $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:

Psychological Well-being

A state of mental health that encompasses aspects of emotional, psychological, and social well-being.

Isotonic

Pertaining to a solution that has the same osmotic pressure as another solution, typically referring to muscle movements or solutions in biology.

Isometric

Pertaining to exercises or muscle actions in which tension is developed without contraction of the muscle.

Resistive Isometric

Exercise involving muscle contractions without movement, typically used to increase muscle strength without straining the joints.