Question

The mean annual tuition and fees in a particular academic year for a sample of 23 private colleges in Oklahoma was $37,553 with a standard deviation of $7,341. Assuming that the population is approximately normal, can we conclude with a significance level of α = 0.05 that the mean tuition and fees for private institutions in Oklahoma is $36,000?

a.) State the null and alternative hypothesis using correct symbolic form. (Do not use commas in your answers)

H₀: Answerρμσ Answer=≠<> Answer

H₁: Answerρμ σ Answer≠<> Answer

b.) Is this a left-tailed, right-tailed, or two-tailed hypothesis test?

left-tailed

right-tailed

two-tailed

c.) How many degrees of freedom will be used for the given sample size?

Answer

d.) What is the positive critical value? (round to two decimal places)

t = Answer

e.) What is the test statistic? (round to two decimal places)

t = Answer

f.) What is the p-value? (round to four decimal places)

p-value is Answer

g.) Should we reject or fail to reject the null hypothesis?

reject

fail to reject

h.) State the conclusion.

There is sufficient evidence to support the claim that the mean tuition and fees for private institutions in Oklahoma is $36,000.

There is not sufficient evidence to support the claim that the mean tuition and fees for private institutions in Oklahoma is $36,000.

There is sufficient evidence to warrant rejection that the mean tuition and fees for private institutions in Oklahoma is $36,000.

There is not sufficient evidence to warrant rejection that the mean tuition and fees for private institutions in Oklahoma is $36,000.

Answer 1