The average cost of tuition plus room and board for a small private liberal arts college is reported to be $9,300 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 $9,625. The population standard deviation is $1,200. Let α = 0.05. What is the test statistic for this test?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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The average cost of tuition plus room and board for a small private liberal arts college is reported to be $9,300 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 $9,625. The population standard deviation is $1,200. Let α = 0.05. What is the test statistic for this test?

 

  • ±5.07

  •  

    +1.451

  •  

    −5.07

  •  

    +5.07

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