According to an estimate, the average total parent and student debt for new college graduates was $34,400 in 2010-11 (Time, October 31, 2011). Arandom sample of 455 of this year's graduates showed that their average such debt is $39,000 with a standarn deviation of $5520. Do the data provide significant evidence at a 5% significance level to conclude that the current average total parent and student debt for new graduates is higher than $34,400? Use both the p-value approach and the critical-value approach. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range.

According to an estimate, the average total parent and student debt for new college graduates was $34,400 in 2010-11 (Time, October 31, 2011). Arandom sample of 455 of this year's graduates showed that their average such debt is $39,000 with a standarn deviation of $5520. Do the data provide significant evidence at a 5% significance level to conclude that the current average total parent and student debt for new graduates is higher than $34,400? Use both the p-value approach and the critical-value approach. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range.

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Description: **Title: Statistical Analysis of College Graduate Debt****Overview:**According to an estimate, the average total parent and student debt for new college graduates was $34,400 in the 2010-11 academic year (Time, October 31, 2011). A study was conduct

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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