A university raises funds for its scholarships and awards. Data from the past years' fundraising are...

 

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A university raises funds for its scholarships and awards. Data from the past years' fundraising are shown in the following table. 3 4 5 6 14 Year 2 7. 8 9. 10 11 12 13 SMilion 10.2 10.8 10.9 11.2 10.8 9.9 10.3 11.2 13.3 11.5 12.8 15.2 10.2 14.1 If it is assumed that the amount of funds raised in each year follows a normal distribution. The sample variance from the above year's data is 1.02. 1) The university Advancement Office would like to see if the target of $12 million/year can be expected in the future based on past experience. use a two-sided hypothesis test to determine if such expectation is realistic with the rest of 1 out of 20. 2) Calculate the confidence interval for the mean value of the raised funds A university raises funds for its scholarships and awards. Data from the past years' fundraising are shown in the following table. 3 4 5 6 14 Year 2 7. 8 9. 10 11 12 13 SMilion 10.2 10.8 10.9 11.2 10.8 9.9 10.3 11.2 13.3 11.5 12.8 15.2 10.2 14.1 If it is assumed that the amount of funds raised in each year follows a normal distribution. The sample variance from the above year's data is 1.02. 1) The university Advancement Office would like to see if the target of $12 million/year can be expected in the future based on past experience. use a two-sided hypothesis test to determine if such expectation is realistic with the rest of 1 out of 20. 2) Calculate the confidence interval for the mean value of the raised funds

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Solution Mo12 Gives n 14 s102 005 2lout f 20 116 XSample mean Eni 1624 14 J The problem ... View the full answer