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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?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
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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: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?
А. Null: µ < or = $9,000; alternative: µ > $9,000 В. Null: µ <or= $8,500; alternative: u > $8,500 С. Null: µ >= µ >= $8,745; alternative: µ < $8,745 D. Null: µ >or =$8,500; alternative: µ < $8,500
Transcribed Image Text:А. Null: µ < or = $9,000; alternative: µ > $9,000 В. Null: µ <or= $8,500; alternative: u > $8,500 С. Null: µ >= µ >= $8,745; alternative: µ < $8,745 D. Null: µ >or =$8,500; alternative: µ < $8,500
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