Answer:
H₀: µ ≤ $8,500; H₁: µ > $8,500
z= +1.645
Step-by-step explanation:
From the given problem As average cost of tuition and room and board at a small private liberal is less than the financial administrator As hypothesis is true.
As standard deviation is $ 1,200
α = 0.05
H₀: µ ≤ $8,500
if the null hypothesis is true then value for critical z is +1.645.