tuition for the current academic year is $60,000, but the university claims that the average grants and scholarship aid received is $37,000. You want to check and see if the tuition net of aid is in fact $23,000, so you ask a random sample of n = 20 students what net tuition they pay. From your survey you find ?̅ = $25,000 with a sample standard deviation of s = $5,000. Test your hypothesis at the 90% confidence level using the p
tuition for the current academic year is $60,000, but the university claims that the average grants and scholarship aid received is $37,000. You want to check and see if the tuition net of aid is in fact $23,000, so you ask a random sample of n = 20 students what net tuition they pay. From your survey you find ?̅ = $25,000 with a sample standard deviation of s = $5,000. Test your hypothesis at the 90% confidence level using the p
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
tuition for the current academic year is $60,000, but the university claims that the average grants and scholarship aid received is $37,000. You want to check and see if the tuition net of aid is in fact $23,000, so you ask a random sample of n = 20 students what net tuition they pay. From your survey you find ?̅ = $25,000 with a sample standard deviation of s = $5,000. Test your hypothesis at the 90% confidence level using the p- value approach.
Expert Solution
Step 1
Given data :
sample size, n = 20
sample mean, x̄ = 25000.0
sample standard deviation,s= 5000.0
population mean,μ= 23000.0
Significance level, α= 0.1
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