Question: Tuition 2006. How much more do public colleges and universities charge out-of-state students for tuition per semester? A random sample of 19 public colleges and universities listed at www.collegeboard.com yielded the following data. Tuition figures per semester are rounded to the nearest hundred dollars.
a) Create a 90% confidence interval for the mean difference in cost. Be sure to justify your procedure.
b) Interpret your interval in context.
c) A national magazine claims that public institutions charge state residents an average of $3500 less than out-of-staters for tuition each semester. What does your confidence interval indicate about this assertion?