The Average Cost of Tuition Plus Room and Board at Small

question 65

Multiple Choice

The average cost of tuition plus room and board at small private liberal arts colleges 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 is the p-value for this test?

• A) 0.0000
• B) 0.0124
• C) 0.0500
• D) 0.4938

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Definitions:

Company's Servers

Computer systems or software providing services to other computers or clients over a network, owned and operated by a business organization.

Identity Theft

Crime in which someone uses the personal information of others to create a false identity and then uses it fraudulently.

Bank Account

A financial account maintained by a bank or other financial institution in which the financial transactions between a customer and the institution are recorded.

Pretending

The act of making believe or acting in a way that is not genuine or is meant to deceive.