The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,745 per term, but a financial administrator believes that the average cost is less than this. A study conducted using 350 small liberal arts colleges showed that the average cost per term is $8,500 and the population standard deviation from previous studies is $1,200. Let = 0.05 .What are the null and alternative hypotheses for this study?
The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,745 per term, but a financial administrator believes that the average cost is less than this. A study conducted using 350 small liberal arts colleges showed that the average cost per term is $8,500 and the population standard deviation from previous studies is $1,200. Let = 0.05 .What are the null and alternative hypotheses for this study?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Topic Video
Question

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

Transcribed Image Text:A.
Null: µ < or = $9,000; alternative: µ >
$9,000
%3D
В.
Null: µ <or= $8,500; alternative: µ >
$8,500
С.
Null: µ >= $8,745; alternative: µ < $8,745
D.
Null: µ >or =$8,500; alternative: µ <
$8,500
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON

The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman