A university advises parents of incoming freshmen that the average cost of textbooks is typically greater than $300. A sample of 35 students enrolled in the university indicates a sample mean cost of $295.40. Assume the population standard deviation is $23.20. With a 0.05 level of significance, use the p-value approach to test the university's claim that the average cost of textbooks is greater than $300.
HO: μ "State the null hypothesis."
HA: μ "State the alternativel hypothesis."
"State the rejection rule"
"Compute the test statistic for the test stated in the problem"
"State if you reject or fail to reject the null hypothesis."