The mean annual tuition and fees for a sample of 7 private colleges was $ 28,104...

The mean annual tuition and fees for a sample of 7 private colleges was $ 28,104 with a standard deviation of $ 4,597 . A dotplot shows that it is reasonable to assume that the population is approximately normal. A researcher wants to test to see if the mean tuition and fees for private institutions differs from $30,000. Compute the P-value of the test.

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Expert Solution

Solution :

Given that,

Population mean = = 30000

Sample mean = = 28104

Sample standard deviation = s = 4597

Sample size = n = 7

This is a two tailed test.

The null and alternative hypothesis is,

Ho: 30000

Ha: 30000

The test statistics,

t = ( - )/ (s/)

= ( 28104 - 30000) / ( 4597 / 7)

= -1.091

p-value:

df = n - 1 = 6

p-value = 0.317

The p-value is 0.317

orchestra answered 1 year ago

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