You are the Admissions Director at Holt State University (HSU), a large public university. You wish to have statistics that draw potential applicants' attention to HSU's unusually low tuition: annual tuition+fees=$8,200. You commission an assistant director to draw a random sample from the population of all public four-year colleges and universities in order to estimate the population average annual tuition+fees ("TF"). The data are contained in Tuition.txt: each observation in this file represents one school in the sample, and is formatted as follows: the TF amount (in dollars) followed by a blank followed by either a "C" (the institution is a college: i.e., awards undergraduate degrees only) or a "U" (the institution is a university: i.e., awards both undergraduate and graduate degrees).

Based on these data, and using only Excel, please answer the following questions:

1. What is the best estimate of the population mean TF?
2. What is the best estimate of the population standard deviation of TF?
3. What is the best estimate of the standard error of the sample mean TF?
4. What is the lower bound of a 95% confidence interval for the mean TF (using t)?
5. What is the upper bound of a 95% confidence interval for the mean TF (using t)?
6. Can you claim that you are 95% confident that HSU's TF is different than the average TF of all public four-
7. year colleges and universities? (No/Yes) Why/Why not?
8. What is the best estimate of the proportion of the population with TF values exceeding $8200?
9. What is the standard error of the proportion of the population with TF values exceeding $8200?
10. What is the lower bound of a 95% confidence interval for the proportion of the population with TF values
11. exceeding $8200?
12. What is the upper bound of a 95% confidence interval for the proportion of the population with TF values
13. exceeding $8200?
14. Can you make the claim that you are at least 95% confident that more than 75% of the nation's public four-
15. year colleges and universities have higher annual tuition+fees than HSU? (No/Yes) Why/Why not?
16. What is the best estimate of the difference (universities minus colleges) in mean TF values?
17. What is the best estimate of the standard error of the difference (universities minus colleges) in mean TF
18. values?
19. What is the lower bound of a 95% confidence interval on the difference (universities minus colleges) in mean
20. TF?
21. What is the upper bound of a 95% confidence interval on the difference (universities minus colleges) in mean
22. TF?

(For the last 4 questions, you may assume equal variances.)

8526 U 8668 U 8668 U 8642 C 8986 U 8915 U 8260 U 8851 U 9062 C 8585 U 8327 U 8208 C 8918 U 8015 U 9104 C 8008 C 9209 C 9033 C 8753 C 8801 C 8126 U 8949 U 8614 C 8745 C 9003 U 8719 U 8981 U 8347 C 8969 U 9026 U 8132 U 9310 U 8428 U 9175 U 8944 U 8275 C 8036 U 9120 U 8583 U 8931 U 8235 U 8934 C 8690 U 8524 U 9000 U 8784 C 9190 C 8882 U 8050 U 8204 C 8054 U 8799 U 9239 C 8509 U 8131 U 8168 U 9198 U 9115 U 9084 U 8436 U 8642 C 8732 U 9200 U 8127 C 8887 U 8676 C 8246 U 8958 C 8765 U 8396 C 9170 C 8725 C 8901 C 8793 U 8318 C 8307 C 8485 C 8884 U 8669 C 8261 C 8196 U 8152 C 8059 U 8078 C 9087 C 9192 C 8550 U 8464 U 8910 U 9186 U 8288 C 8375 U 8465 U 8952 U 8817 C 8771 U 8460 U 8957 U 8023 C 8169 C