An educational consulting group claims that there is a difference in the mean student loan debt of students who attended private four-year colleges and the mean student loan debt of students who attended out-of-state public four-year colleges. Student loan debt of 10 randomly selected students who attended private four-year colleges and 10 randomly selected students who attended out-of-state public four-year colleges, at the time of graduating college, are recorded. Assume that the population standard deviation of student loan debt is $5,000 for both the private college attendees and the public college attendees, and assume that the distribution of student loan debt is normally distributed for both the private college attendees and the public college attendees. Let the students who attended private four-year colleges be the first sample, and let the students who attended out-of-state public four-year colleges be the second sample. The group conducts a two-mean hypothesis test at the 0.05 level of significance, to test if there is evidence of a difference in student loan debt between the two groups. (a) H0:μ1=μ2; Ha:μ1≠μ2, which is a two-tailed test. Private Public 46623 35339 47055 36778 43780 36818 41351 36705 38944 36953 38588 34066 36309 34911 39783 31240 35126 30821 36324 26500 The above table lists the student loan debt of 10 randomly selected students who attended private four-year colleges and 10 randomly selected students who attended out-of-state public four-year colleges, at the time of graduating college. (b) Use a TI-83, TI-83 Plus, or TI-84 calculator to test if the means are different. Identify the test statistic, z, and p-value from the calculator output. Round your test statistic to two decimal places and your p-value to three decimal places. test statistic = p-value =
An educational consulting group claims that there is a difference in the mean student loan debt of students who attended private four-year colleges and the mean student loan debt of students who attended out-of-state public four-year colleges. Student loan debt of 10 randomly selected students who attended private four-year colleges and 10 randomly selected students who attended out-of-state public four-year colleges, at the time of graduating college, are recorded. Assume that the population standard deviation of student loan debt is $5,000 for both the private college attendees and the public college attendees, and assume that the distribution of student loan debt is
The group conducts a two-mean hypothesis test at the 0.05 level of significance, to test if there is evidence of a difference in student loan debt between the two groups.
(a) H0:μ1=μ2; Ha:μ1≠μ2, which is a two-tailed test.
|
Private |
Public |
|
46623 |
35339 |
|
47055 |
36778 |
|
43780 |
36818 |
|
41351 |
36705 |
|
38944 |
36953 |
|
38588 |
34066 |
|
36309 |
34911 |
|
39783 |
31240 |
|
35126 |
30821 |
|
36324 |
26500 |
The above table lists the student loan debt of 10 randomly selected students who attended private four-year colleges and 10 randomly selected students who attended out-of-state public four-year colleges, at the time of graduating college.
(b) Use a TI-83, TI-83 Plus, or TI-84 calculator to test if the means are different. Identify the test statistic, z, and p-value from the calculator output. Round your test statistic to two decimal places and your p-value to three decimal places.
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