Several years ago, the Wisconsin Institute of Charitable Giving (WICG) conducted a comprehensive study on the grant-making activities of the nearly 1,300 charitable foundations in the state. The data collected showed an average grant size of $825,000. Officials at WICG are concerned that their data might be a bit dated, but they do not have the time or resources to update the data for the entire population of charitable foundations in the state. Accordingly, they collect data on the average size of grants in dollars for a randomly selected sample of 200 foundations. What can they conclude from their data? Present null and alternative hypotheses and evaluate them.

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