You may need to use the appropriate appendix table or technologyto answer this question.
The increasing annual cost (including tuition, room, board,books, and fees) to attend college has been widely discussed(Time.com). The following random samples show the annualcost of attending private and public colleges. Data are inthousands of dollars.
Private Colleges| 53.8 | 42.2 | 46.0 | 34.3 | 44.0 |
| 31.6 | 44.8 | 36.8 | 50.5 | 42.0 |
Public Colleges| 20.3 | 22.0 | 28.2 | 15.6 | 24.1 | 28.5 |
| 22.8 | 25.8 | 18.5 | 25.6 | 14.4 | 21.8 |
(a)
Compute the sample mean (in thousand dollars) and samplestandard deviation (in thousand dollars) for private colleges.(Round the standard deviation to two decimal places.)
sample mean$Â Â thousandsample standarddeviation$Â Â thousand
Compute the sample mean (in thousand dollars) and samplestandard deviation (in thousand dollars) for public colleges.(Round the standard deviation to two decimal places.)
sample mean$Â Â thousandsample standarddeviation$Â Â thousand
(b)
What is the point estimate (in thousand dollars) of thedifference between the two population means? (Use Private −Public.)
$Â Â thousand
Interpret this value in terms of the annual cost (in dollars) ofattending private and public colleges.
We estimate that the mean annual cost to attend private collegesis $Â Â more than the mean annual cost to attend publiccollege
(c)
Develop a 95% confidence interval (in thousand dollars) of thedifference between the mean annual cost of attending private andpublic colleges. (Use Private − Public. Round your answers to onedecimal place.)
$Â Â thousand to $Â Â thousand
