10.70 [EX10-070] According to the College Board

(http://www.collegeboard.com/press/article/

0,3,8993,00.html), the average 2004–2005 cost (tuition, fees, and room and board) for a public college is

$11,354 versus $26,057 for a private college. Is there also a difference in the average cost of required textbooks between public and private colleges? The following samples of size 10 were taken.

Public Private Public Private Public Private 64.69 71.00 103.59 98.56 110.69 112.58 89.60 96.19 106.38 98.94 118.94 114.00 101.49 96.47 106.77 107.79 135.94 116.55 101.75 97.14 Using the Excel output that follows and   0.05, determine whether the average cost of required textbooks per class is different between public and private colleges. Assume normality.

a. Solve using the p-value approach.

b. Solve using the classical approach.

t-Test: Two-Sample Assuming Unequal Variances Public Private Mean 103.984 100.922 Variance 340.6249822 173.2995511 Observations 10 10 Hypothesized Mean Difference 0 df 16 t Stat 0.427125511 P(T t) two-tail 0.674980208 t Critical two-tail 2.119904821