Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): , and 220.0. Stummary statistics yield and . Calculate a confidence interval for the mean endowment of all private colleges in the United States.
A)
B)
C)
D) 181.387
Correct Answer:
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