Question
The average tuition and room and board cost at a small private liberal arts college is...
- The average tuition and room and board cost at a small private liberal arts college is reported to be $20,000 per term. A study of 400 small liberal arts colleges find that the average cost per term is $20,100. The population standard deviation is $1,500. What is the 95 percent confidence limit for estimated population mean?
Homework Answers
Answer #1
95% confidence interval for 
is
- Z *
/ sqrt(n) <
< + Z *
/ sqrt(n)
20100 - 1.96 * 1500 / sqrt(400) < < 20100 + 1.96 *
1500 / sqrt(400)
19953 < < 20247
95% CI is ( 19953 , 20247 )
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