~~Please provide meaningful explanations and business
implications of your results
You have been asked to continue your analysis of the tuition rates
at private universities throughout the United States. One of the
factors that need to be studied is the population variability in
these rates. To complete this task, you select a random sample of
universities from the population. The tuition data for this sample
of universities is shown in appendix one. At both the 5% and the
10% levels of significance, does the standard deviation in the
tuition charged by private universities throughout the United
States differ from $10,000? Construct both 95% and 90% confidence
intervals for the population variance and standard deviation in the
tuition amounts and explain their meanings.
Appendix One:
$14,350 $25,680 $32,110 $18,900 $18,750
$16,000
$21,600
$24,000
$20,060
$17,020
$19,990
$28,900
$22,700
$23,650
$30,000
$21,765 $26,800 $16,500 $23,400 $22,225
$17,560 $29,500 $18,900 $25,000 $21,590
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