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Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund
Private colleges and universities rely on money contributed by individuals and corporations for 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 revealed the following endowments (in millions of dollars): 75.1, 53, 249.9, 497.2, 114.4,167.8 ,110.1, and 224.8.
Compute a 90% confidence interval for the true variance of Endowments made to private universities.
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