Private Colleges Rely on Money Contributed by Individuals for Much

question 66

Multiple Choice

Private colleges rely on money contributed by individuals for much of their major building expenses.Much of this money is put into a fund called a trust,and the college spends only the interest earned by the fund.A recent survey of 8 private colleges in Australia revealed the following trusts (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 trust of all private colleges in Australia?

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

---

Definitions:

Plain Language

Writing or speech that is clear, concise, and easily understood by the intended audience without unnecessary jargon or complexity.

Credibility

The quality of being trusted and believed in, often influenced by an entity's reputation, reliability, and expertise.

Formal Tone

A style of communication that is polite, well-structured, often adhering to conventional standards, used in professional or serious contexts.

Texting

The act of sending and receiving short messages, typically text-based, through mobile phones or other devices.