What is the test statistic for this test

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The average cost of tuition plus room and board at a small private liberal arts college is reported to be $8,500 per term, but a financial administrator believes that the average cost is higher. A study conducted using 350 small liberal arts colleges showed that the average cost per term is $8,745. The population standard deviation is $1,200. Let ? = 0.05. What is the test statistic for this test?

Reference no: EM13800482

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