Private Colleges and Universities Rely on Money Contributed by Individuals $\pm$

Multiple Choice

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 8 private colleges in the United States revealed the following endowments (in millions of dollars) : 60.2,47.0,235.1,490.0,122.6,177.5,95.4,and 220.0.Summary statistics yield x? =180.975 and S = 143.042 .Calculate a 95% confidence interval for the mean endowment of all the private colleges in the United States assuming a normal distribution for the endowments.

A) $180.975 $\pm$ $94.066
B) $180.975 $\pm$ $99.123
C) $180.975 $\pm$ $116.621
D) $180.975 $\pm$ $119.586