Answer:
The point estimate for the mean endowment of all private colleges in the United States is 180.2125 million dollars.
Step-by-step explanation:
We are given endowments (in millions of dollars) of eight private colleges in the United States:
78.8, 50.3, 243.2, 489, 111.5, 163.7, 92.4, 212.8
We have to find the point estimate of the population mean endowment of all private colleges in the United States.
The point estimate will be given by the sample mean.
Formula:
Thus, the point estimate is 180.2125 million dollars.