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Patsy Pennypincher is very concerned with the rising cost of education. She collected a sample of...

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Statistics

Patsy Pennypincher is very concerned with the rising cost ofeducation. She collected a sample of 20 institutions (n=20) andfound a sample mean cost of $15,500 (mean = 15,500) and a samplestandard deviation to be $3000 (s = 3000). Provide Patsy with a 98%confidence interval for this year’s tuition cost.

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Solution Given that 15500s 3000n 20Degrees of freedom df n 1 20    See Answer
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