The average cost of tuition and room and board for a small private liberal arts college is reported to be $8,500 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 $8,745. The population standard deviation is $1,200. Let α = 0.05. What are the null and alternative hypotheses for this study? A)H₀: µ ≤ $9,000; H₁: µ $9,000 B)H₀: µ ≥ $9,000; H₁: µ $8,500 D)H₀: µ ≥ $8,500; H₁: µ

Question

The average cost of tuition and room and board for a small private liberal arts college is reported to be $8,500 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 $8,745. The population standard deviation is $1,200. Let α = 0.05. What are the null and alternative hypotheses for this study? A)H₀: µ ≤ $9,000; H₁: µ > $9,000 B)H₀: µ ≥ $9,000; H₁: µ < $9,000 C)H₀: µ ≤ $8,500; H₁: µ > $8,500 D)H₀: µ ≥ $8,500; H₁: µ < $8,500

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The Answer of The average cost of tuition and room and board for a small private liberal arts college is reported to be $8,500 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 $8,745. The population standard deviation is $1,200. Let α = 0.05. What are the null and alternative hypotheses for this study? A)H₀: µ ≤ $9,000; H₁: µ > $9,000 B)H₀: µ ≥ $9,000; H₁: µ < $9,000 C)H₀: µ ≤ $8,500; H₁: µ > $8,500 D)H₀: µ ≥ $8,500; H₁: µ < $8,500

The Average Cost of Tuition and Room and Board for a Small