The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,500 per term, but a financial administrator believes that the average cost is higher. A study conducted using 225 small liberal arts colleges showed that the average cost per term is $8,745 with a standard deviation of $1,500. Let = 0.05. Calculated z=2.45 What is your conclusion based on p-value?

Group of answer choices

A. p-value is less than significance level so Reject Ho and prove claim.

B. p-value is more than significance level so Reject Ho and prove claim.

C. p-value is less than significance level so Do Not Reject Ho and prove claim.

D. p-value is more than significance level so Do Not Reject Ho and prove claim.