The Average Cost of Tuition and Room and Board at Small

question 111

Multiple Choice

The average cost of tuition and 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:

Universal Functionalism

A theory in sociology and anthropology that argues all aspects of a society serve a purpose and are necessary for the survival of that society.

Robert Merton

Robert Merton was an American sociologist known for developing notable theories including the strain theory and concepts such as self-fulfilling prophecy.

Social

Relating to society or its organization, highlighting aspects such as hierarchical structure, interactions, and collective behavior within a community.

Cultural Beliefs

Shared ideas that are accepted as true by a particular group of people, shaping their values, norms, and behaviors.