The average cost of tuition plus room and board for a small…
The average cost of tuition plus room and board for a small private liberal arts college is reported to be $8,850 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 $9,130. The population standard deviation is $1,200. Let α = 0.05. Calculate the p-value for this test and show it below.