Question

The average cost of tuition and room and board at a small private liberal arts college is reported to be $8,500 per term. 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

Answer 1

Answer:

D. +3.82

Step-by-step explanation:

The computation of the test static for this test is shown below:

Data provided in the question

$\bar x$= $8,745

$\mu$ = $8,500

$\sigma$ = $1,200 and n = 350

Now based on the above information, the test static for this test is

$z = \frac{\bar x - \mu}{\frac{\sigma}{\sqrt{n} } }$

$z = \frac{\ 8,745 - \ 8,500}{\frac{\ 1,200}{\sqrt{350} } }$

= 3.82

= +3.82

Hence, the test static for this test is +3.82

We simply applied the above formula so that the correct value could come

And, the same is to be considered