The increasing annual cost (including tuition, room, board, books and fees) to attend college ) to attend college has been widely discussed in many publications including Money magazine. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Click on the datafile logo to reference the data. Round degrees of freedom to the preceding whole number. Private Colleges
52.8 43.2 45.0 33.3 44.0
30.6 45.8 37.8 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 and sample standard deviation for private and public colleges. Round your answers to two decimal places.
ample mean $ thousand sample standard deviation $ thousand
Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decimal places.)
sample mean $ thousand sample standard deviation $ thousand
(b) What is the point estimate (in thousand dollars) of the difference between the two population means? (Use Private − Public.)
$ thousand
Interpret this value in terms of the annual cost (in dollars) of attending private and public colleges.
We estimate that the mean annual cost to attend private colleges is $ more than the mean annual cost to attend public college
(c) Develop a 95% confidence interval (in thousand dollars) of the difference between the mean annual cost of attending private and public colleges. (Use Private − Public. Round your answers to one decimal place.)
$ thousand to $ thousand