Question: please help me ! I am so confused! In a recent report, Trends in College Pricing, researchers at the CollegeBoard stated that the national average
please help me ! I am so confused!
In a recent report, Trends in College Pricing, researchers at the CollegeBoard stated that the national
average cost for 2019 - 2020 undergraduate tuition and fees at four-year private colleges/universities
is $36,880. As of May 16, 2020, approximately 37% of the Classical High School Class 0f 2020 will
be attending four-year private colleges in New England. The mean Consumer Price Index (CPI) is
approximately 5% higher in New England than the national CPI mean. Therefore, is the mean annual
cost for 2019 - 2020 undergraduate tuition and fees at four-year private New England
colleges/universities different than the national mean of $36,880?
Part I:
For this investigative study, you have been provided with a list of 113 f0ur-year private New England
colleges/universities and their annual 2019 -2020 tuition and fees. Using the "RandInt" generator on
your graphing calculator, you are to randomly select 15 colleges from the list. Does your data provide
convincing evidence at the significance level that the average tuition and fees at four-year
private New England colleges/universities differs from the national annual tuition and fees average of
$36,880? (For "Assessing Conditions", use the Independence condition in place of the 10%
condition.) Include a list of your data in the analysis.
Part II:
Construct and interpret a 95% confidence interval for the true mean 2019 - 2020 tuition and fees cost
for four-year private New England colleges/universities. Explain why the interval is consistent with
the significance test conducted in Part I. What additional information does the interval provide that
the significance test does not?
Part III:
Given your conclusion in Part I, which kind of mistake - a Type I error or a Type II error - could you
have made? Explain what this mistake means in context.
Babson College$52,608
Bard College at Simon's Rock$56,901
Bates College$55,683
Bay Path University$35,081
Bay State College$23,500
Beal College$23,500
Becker College$40,150
Bennington College$55,950
Bentley University$51,830
Eastern Nazarene College$26,568
Emerson College$49,432
Emmanuel College$41,448
Endicott College$34,200
Fairfield University$49,830
Fisher College$31,992
Saint Anselm College$41,800
Saint Joseph's College of Maine$36,720
Saint Michael's College$47,045
Salve Regina University$41,450
Simmons College$42,070
Smith College$54,224
Southern New Hampshire University$31,136
Southern Vermont College$25,511
Springfield College$39,305
Sterling College$39,020
Stonehill College$44,420
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
