21) How much money does the average professional football fan spend on food at a

Question

21) How much money does the average professional football fan spend on food at a single football game? That question was posed to 43 randomly selected football fans. The sample results provided a sample mean () and standard deviation (s) of $16.00 and $2.85, respectively. Find a 99% confidence interval for ?. ULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 22) Private colleges and universities rely on money contributed by individuals and corporations for 22) 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): 60.2, 47.0, 235.1, 490.0, 122.6, 177.5, 95.4, and 220.0. Summary statistics yield-= 180975 and s = 143.042. Endowment-N ( ). Calculate a 99% confidence interval for the mean endowment of all private colleges in the United States. A) 180.975 ± 176.955 C) 180.975 181.387 B) 180.975 169.672 D) 180.975 189.173

Explanation / Answer

Z value at 99% confidence interval is 2.576

Standard error= standard deviation /n^0.5

SE= 2.85/43^0.5 = 0.435

Confidence interval => X - SE.z to X + SE.z

16 -2.576*0.435 to 16 + 2.576*0.435

16 - 1.12056 to 16 + 1.12056

14.87944 to 17.12056

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