The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,500 per term, but a financial admini

Question

The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,500 per term, but a financial administrator believes that the average cost is higher. A study conducted using 350 small liberal arts colleges showed that the average cost per term is $8,745 with a standard deviation of $1,200. Let = 0.05. What are the null and alternative hypotheses for this study?

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Sarah 2 weeks 2021-09-15T03:04:27+00:00 1 Answer 0

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    2021-09-15T03:06:11+00:00

    Answer:

    H0 : u = 8500

    H1 : u > 8500

    Step-by-step explanation:

    Given:

    sample size, n = 350

    mean, u = 8500

    Sample mean, x’ = 8745

    Standard deviation = 1,200

    Level of significance = 0.05

    In this case, the financial administrator believes that the average cost of tution, room and board at small liberal arts colleges is higher than the reported $8500. We can say this is the alternative hypoyhesis, since it is a claim.

    The null hypothesis would be the opposite of the alternative hypothesis.

    Therefore, the null and alternative hypotheses are:

    H0 : u = 8500

    H1 : u > 8500

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