Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. S1 = S2 = b. What is the point estimate of the difference between the two population means? Round your answer to one decimal place. Interpret this value in terms of the annual cost of attending private and public colleges. $ c. Develop a 95% confidence interval of the difference between the annual cost of attending private and pubic colleges. 95% confidence interval, private colleges have a population mean annual cost $ to $ more expensive than public colleges. Check My Work Icon Key Previous Question 4 of 9 NextExercise 10.13

(1) The sample mean is = 6.98, the standard deviation is = 4.53 (2) The pint estimate difference is = 20.2 (3) The confidence interval limits are $ 15943.6 and $24456.4

Step-by-step explanation:

Solution

(A) The first step is to compute the mean sample and the standard deviation for private and public colleges.

Thus,

The mean and private colleges is computed as follows:

The mean and private colleges = The sum of derivation/The total number of observation

x= 42.5

The standard deviation is S₁ = 6.9806 = √∈ (xi - x)²/n-1

The mean of public colleges y =22.3

Standard deviation S₂ = 4.5323 = √∈ (yi - y)²/n-1

Thus,

S₁ = 6.98

S₂ =4.53

(b) We find the point estimate of the difference between two population means

Thus,

x -y = 42.5 -22.3

=20.2

Therefore, the annual cost is =$20,200

Note: Kindly find an attached copy of the option c and the complete question stated above.