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. a 95% confidence interval for the mean endowment of all the private colleges in the united states is: