The Central Limit Theorem ensures that the sampling distribution of the sample mean approaches normal as the sample size increases, is it true ?
Private colleages and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is put into a fund called endowment, and the college spends only the interest rarned by the fund. A recent survey of 8 private colleages in the United States received the following endowmnnts 9in million 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 th point estimate for the mean endowment of all private colleges in the United States ? a) $1,447.8 b) $180.975 c) $143.042 or d) $8