SOLUTION: Average Senior high school annual cost of tuition fee for all private schools last year was 46, 300. A random sample cost this year for 45 private schools indicated that the sample

Question 1192240: Average Senior high school annual cost of tuition fee for all private schools last year was 46, 300. A random sample cost this year for 45 private schools indicated that the sample of mean was 47,800 and a sample standard deviation was 5,600. At the 0.10 level of significance, is there sufficient evidence to conclude that the cost has increased.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
Assumption that sd of sample is unbiased estimator of the population
Ho: mean is 46300
Ha: mean is not 46300
alpha=0.10 p{reject Ho|Ho true}
test statistic is a t (df=44)
critical value is |t|>1.301
calculation t=(x bar-mean)/s/sqrt(n)
=1500*sqrt(45)/5600
=1.80
reject Ho, and we can conclude there is a difference and there has been an increase, p-value=0.08

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