The Average Cost of Tuition, Room and Board at Community

Multiple Choice

The average cost of tuition, room and board at community colleges is reported to be $8,500 per
Year, but a financial administrator believes that the average cost is higher. A study conducted using
150 community colleges showed that the average cost per year is $9,000 with a standard deviation
Of $1,200. Let α = 0.05.
Given the following megastat printout, explain the meaning of the p-value.

A) There is a 1.67% chance of getting these sample results if the null hypothesis is true.
B) There is a 16.7% chance of getting these sample results if the null hypothesis is true.
C) There is an incredibly small chance of getting these sample results if the null hypothesis is true; therefore we have strong evidence to support that college costs are more than
$8,500.
D) There is an incredibly large chance of getting these sample results if the null hypothesis is true; therefore we are unable to reject the claim that college costs are $8,500.