(Answered) The average cost of tuition plus room and board at small

Statistics

The average cost of tuition plus room and board at small private liberal arts college is reported to be $8,500 per term, but the financial administration believes that the average cost is higher. A student conducted using 150 small liberal arts colleges showed that the average cost per term is $8700. The population standard deviation is $1200. Let a = 0.02. Based on the computer test statistic, what is our decision about the average cost?

State your hypothesis: Ho:

H1:

Is this a one tail or two tail test?

What is the Test Static AND its value?

Critical Value:

p-value:

State your decision:

What is your decision about the hypothesis and why?

State your conclusion about the hypothesis in your words:

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