The average cost of tuition plus room and board for a small private liberal arts college is reported to be $9,500 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 $9,845. the population standard deviation is $1,200. let α = 0.05. what is the p-value for this test?

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01-06-2022
Mathematics

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The average cost of tuition plus room and board for a small private liberal arts college is reported to be $9,500 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 $9,845. the population standard deviation is $1,200. let α = 0.05. what is the p-value for this test?

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