The average undergraduate cost per tuition, fees, room, and board for all institutions last year
was $26,025. A random sample of 40 institutions of higher learning this year indicated that the
mean tuition, fees, room, and board for the sample was $27,690, and the population standard
deviation is $5492. At the 0.05 level of significance, is there sufficient evidence that the cost has
increased? (Remember to follow the steps in hypothesis testing)