It has been reported that the average debt for college seniors is $4262. The student senate at a large university feels that their seniors have a debt much less than this, so it conducts a study of 100 randomly selected seniors and finds that the average debt is $3995, and the population standard deviation is $1100. Conduct the test based on a Type I error of a = 0.05 to test the claim.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
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It has been reported that the average debt for college seniors is $4262. The student senate at a large university feels that their seniors
have a debt much less than this, so it conducts a study of 100 randomly selected seniors and finds that the average debt is $3995, and the
population standard deviation is $1100. Conduct the test based on a Type I error of a = 0.05 to test the claim.
Transcribed Image Text:It has been reported that the average debt for college seniors is $4262. The student senate at a large university feels that their seniors have a debt much less than this, so it conducts a study of 100 randomly selected seniors and finds that the average debt is $3995, and the population standard deviation is $1100. Conduct the test based on a Type I error of a = 0.05 to test the claim.
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