Private colleges and university rely on money contributed
byindividuals and corporations for their operating expenses. much
ofthis money is put into a fund called an endowment, and the
collegespends only the interest earned by the fund. a recent survey
ofeight private colleges in the united states revealed the
followingendowments (in millions of dollars): 78.8, 50.3, 243.2,
489, 111.5,163.7, 92.4, 212.8. what value will be used as the point
estimatefor the mean endowment of all private colleges in the
unitedstates?

The point estimate for the mean endowment of all private colleges in the United States is 180.2125 million dollars.

Step-by-step explanation:

We are given endowments (in millions of dollars) of eight private colleges in the United States:

78.8, 50.3, 243.2,  489, 111.5, 163.7, 92.4, 212.8

We have to find the point estimate of the population mean endowment of all private colleges in the  United States.

The point estimate will be given by the sample mean.

Formula:

Thus, the point estimate is 180.2125 million dollars.

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step-by-step explanation:

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