The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,745 per term, but a financial administrator believes that the average cost is less than this. A...

Extracted text: The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,745 per term, but a financial administrator believes that the average cost is less than this. A study conducted using 350 small liberal arts colleges showed that the average cost per term is $8,500 and the population standard deviation from previous studies is $1,200. Let = 0.05.What are the null and alternative hypotheses for this study?


Extracted text: A. Null: µ < or="$9,000;" alternative:="" µ=""> $9,000 %3D В. Null: µ $8,500 С. Null: µ >= $8,745; alternative: µ < $8,745="" d.="" null:="" µ="">or =$8,500; alternative: µ <>