Question

In the academic year 2014–15, it was found that the national average for one year of tuition and fees at a private institution of higher learning was $24481 with a standard deviation of $1492. The current estimate for the 33 institutions of higher learning in Louisiana indicates an average of $19,785 per year. Answer the following and determine whether this is a significantly lower expected cost.

Step 1 of 5: What type of hypothesis test should be performed here?

Step 2 of 5: State the null hypothesis.

Step 3 of 5: State the alternative hypothesis

Step 4 of 5: Choose your conclusion.

Step 5 of 5: Choose your interpretation.

Answer 1