An education publication claims that the mean in-state tuition for a private law school is more than
Question:
An education publication claims that the mean in-state tuition for a private law school is more than $25,000 per year. A random sample of 31 private law schools has a mean in-state tuition of $24,045. Assume the population standard deviation is $9365. At α = 0.01, test the publication’s claim.
Decide whether you should use the standard normal sampling distribution or a t-sampling distribution to perform the hypothesis test. Justify your decision. Then use the distribution to test the claim. Write a short paragraph about the results of the test and what you can conclude about the claim.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Elementary Statistics Picturing The World
ISBN: 9780321911216
6th Edition
Authors: Ron Larson, Betsy Farber
Question Posted: