Question 4The average student loan debt is reported to be 525,235. A student belives that the student loan debt ishigher in her area. She takes a random sample of 100 college students in her area and determines the meanto be $27,524 and the standard devition to be $6000. Is there sufficient evidence to support the studentclaim at a 5% significance level?a) Determine the null and alternative hypotheses.Ho: PH.: µSelect an answer(Put in the correct symbol and value)b) Determine the test statistic. Round to two decimals.t%3Dc) Find the p-value, Round to 4 decimals.P-value =d) Make a decision.O Reject the null hypothesisO Fail to reject the null hypothesise) Write the conclusion.O There is sufficient evidence to support the claim that student loan debt is higher than 525,235,O There is not sufficient evidence to support the claim that student loan debt is higher than S25,235.Submit Question

(a) State the hypotheses. That is, there is no evidence to conclude that the average student loan debt is higher than 25,235. That is, there is evidence to conclude that the average student loan debt is higher than 25,235.(b) Obtain the value of the test statistic. The value of the test statistic is obtained below: The required value is, Thus, the value of the test statistic is 3.815(c ) Obtain the P-value. Obtain the degrees of freedom: Use Excel to obtain the probability value. Follow the instruction to obtain the P-value: Open EXCEL Go to Formula bar. In formula bar enter the function as“=TDIST” Enter the test statistic as 3.815 Enter the degrees of freedom as 99. Enter the tails as 1. Click enter EXCEL output: From the Excel output, the P-value is 0.0001 Thus, the P-value is 0.0001. (d) The conclusion is obtained as follows: Use the level of significance as 0.05. The P-value is less than the level of significance. Therefore by the rejection rule, reject the null hypothesis. Correct option: Option 1 (e) That is, there is evidence to conclude that the average student loan debt is higher than 25,235. Correct option: Option 1

Math

Statistics

Question 4 <> The average student loan debt is reported to be S25,235. A student belives 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 to be $27,524 and the standard devition to be $6000. Is there sufficient evidence to support the student' claim at a 5% significance level? a) Determine the null and alternative hypotheses. = 1 :0H Ha: Select an answer v (Put in the correct symbol and value) b) Determine the test statistic. Round to two decimals. t%3D c) Find the p-value. Round to 4 decimals. P-value = d) Make a decision. O Reject the null hypothesis O Fail to reject the null hypothesis e) Write the conclusion. O There is sufficient evidence to support the claim that student loan debt is higher than $25,235. O There is not sufficient evidence to support the claim that student loan debt is higher than $25,235. Submit Question

Question 4 <> The average student loan debt is reported to be S25,235. A student belives 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 to be $27,524 and the standard devition to be $6000. Is there sufficient evidence to support the student' claim at a 5% significance level? a) Determine the null and alternative hypotheses. = 1 :0H Ha: Select an answer v (Put in the correct symbol and value) b) Determine the test statistic. Round to two decimals. t%3D c) Find the p-value. Round to 4 decimals. P-value = d) Make a decision. O Reject the null hypothesis O Fail to reject the null hypothesis e) Write the conclusion. O There is sufficient evidence to support the claim that student loan debt is higher than $25,235. O There is not sufficient evidence to support the claim that student loan debt is higher than $25,235. Submit Question

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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