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It is known that the average tuition per semester at colleges in Virginia is $3712. Suppose...

  1. It is known that the average tuition per semester at colleges in Virginia is $3712. Suppose we take a sample of 15 colleges and find that the average tuition per semester is $4512 with a sample standard deviation of $595. We are interested in testing if the average amount of tuition is increasing. Show work and formulas used.
    1. Using the sample of 15 people, what would the 95% confidence interval be for the population mean?
    2. What are the null and alternative hypotheses?
    3. What is the critical value at 95% confidence?
    4. Calculate the test statistic.
    5. Find the p-value
    6. What conclusion would be made here at the 95% confidence level?
    7. Would my conclusion change if I changed alpha to .01? Show reasoning.
Math   Statistics-And-Probability   
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