Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is put into a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of 9 private colleges in the United States revealed the following endowments (in millions of dollars):

60 75 475 1250 375 450 750 425 1100

Summary statistics yield s = 412.324. Copies of Excel printouts for this data are given below.(Be sure to use the correct printout.)Calculate a 95% confidence interval for the mean endowment of all the private colleges in the United States.

A hotel chain is considering expanding into Gotham.As part of their consideration they want to estimate the average number of conference rooms rented daily. The population of conference rooms rented daily is assumed to be normally distributed for each with a population standard deviation of 24 rooms. A sample of 16 days is taken and the sample mean is found to be 48 rooms. Construct a 90% confidence interval for the mean number of rooms rented daily in Gotham.