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The average student-loan debt is reported to be $25,235. A student believes that the student-loan debt...

The average student-loan debt is reported to be $25,235. A student believes that the student-loan debt is higher in her area. She takes a random sample of 100 college students in her area and determines the mean student-loan debt is $27,524 and the standard deviation is $6,000. Is there sufficient evidence to support the student's claim at a 5% significance level?

Preliminary:

  1. Is it safe to assume that n≤5% of all college students in the local area?
    • Yes
    • No

  2. Is n≥30?
    • Yes
    • No

Test the claim:

  1. Determine the null and alternative hypotheses. Enter correct symbol and value.

    H0: μ=
    Ha: μ? < > ≠  
  2. Determine the test statistic. Round to two decimals.
    t=
  3. Find the pp-value. Round to 4 decimals.
    p-value =
  4. Make a decision.
    • Reject the null hypothesis.
    • Fail to reject the null hypothesis.

  5. Write the conclusion.
    • There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area.
    • There is not sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area.
math   Statistics-And-Probability   
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Answer #1

PINOO Answer: Given that, Mean CM) = $27,524 Standard deviation (a) = $6000 x=0.05 At is safe to believe ncoun a ) yes 11 b)

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