Private Colleges Rely on Money Contributed by Individuals for Much

Multiple Choice

Private colleges rely on money contributed by individuals for much of their major building expenses.Much of this money is put into a fund called a trust,and the college spends only the interest earned by the fund.A recent survey of 8 private colleges in Australia revealed the following trusts (in millions of dollars) : 60.2,47.0,235.1,490.0,122.6,177.5,95.4,and 220.0.What value will be used as the point estimate for the mean trust of all private colleges in Australia?

A) $180.975
B) $8
C) $143.042
D) $1,447.8