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Public versus Private Education

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Is there sufficient evidence to conclude that tuition cost for Public differs from that of Private? Test at the .05 percent level of significance. Be sure to provide a complete interpretation of the results.

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The solution discusses if there sufficient evidence to conclude that tuition cost for Public differs from that of Private.

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Please refer to the attachment.

Public Private
M1= 14.2 M2= 24.3
s1=0.5 s2= 0.5
n1=30 n2=50

Ho: Md = M2 - M1=0
Ha: Md ≠ 0

the formula for a confidence interval on the difference between means ( M2 - M1) is:
t = Md /( )
where Md = M2 - M1 is the statistic and is an estimate of (the standard error of the difference between means). The estimated standard error, , is computed assuming that the variances in the two populations are equal.
Md = M2 - M1=24.3-14.2 = 10.1
The calculations are only ...

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