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Answer:
The value will be used as the point estimate for the mean endowment of all private colleges in the United States is of 180.975 millions of dollars.
Step-by-step explanation:
When we have a sample, the mean of the sample is used as the point estimate for the mean of the entire population.
What value will be used as the point estimate for the mean endowment of all private colleges in the United States?
We have to find the mean of the 8 colleges. So
The value will be used as the point estimate for the mean endowment of all private colleges in the United States is of 180.975 millions of dollars.