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In: Statistics and Probability

The average cost of tuition and room and board for a small private liberal arts college...

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? rev: 06_20_2017_QC_CS-91792 Multiple Choice H0: µ ≤ $9,000; H1: µ > $9,000 H0: µ ≥ $9,000; H1: µ < $9,000 H0: µ ≥ $8,500; H1: µ < $8,500 H0: µ ≤ $8,500; H1: µ > $8,500   

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Expert Solution

The null and alternative hypotheses for this study -   H0: µ ≤ $8,500; H1: µ > $8,500   

orchestra answered 2 years ago
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