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?

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?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

In a survey, 12 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $45 and standard deviation of $8. Find the margin of error at a 98% confidence level. Give your answer to two decimal places.
Students who graduated from college in 2010 owed an average of $25,000 in student loans. An economist wants to determine if average debt has changed. She takes a sample of 40 recent graduates and finds that their average debt is $27,500 with a population standard deviation of $9,120. Use 10% significance level to answer the following questions. a. Specify the competing hypotheses to test economists ‘claim. b. Calculate the value of the test statistic. c. Is the portfolio manager's claim substantiated by the data? Explain.
In a survey, 16 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $38 and standard deviation of $6. Find the margin of error at a 99% confidence level. Give your answer to two decimal places.
An employer claims that full time employees have a mean income of $35,000. A sample of 200 employees was considered. Their mean salary was $34,000. Assuming a population standard deviation of $4,000. Does her claim seem reasonable at a 0.05 level of significance?
In a survey, 18 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $33 and standard deviation of $6. Find the margin of error at a 98% confidence level.Give your answer to two decimal places.
In a survey, 23 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $49 and standard deviation of $4. Find the margin of error at a 98% confidence level.Give your answer to two decimal places.
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? Test the claim: Determine the null and alternative hypotheses. Enter correct symbol and value.�0: �=��: � Determine the test statistic. Round to two decimals.�= Find the �-value. Round to 4 decimals.�-value =
In a survey, 21 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $42 and standard deviation of $4. Find the margin of error at a 80% confidence level. Give your answer to two decimal places.
In a survey, 18 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $30 and standard deviation of $2. Find the margin of error at a 98% confidence level.Give your answer to two decimal places.
In a survey, 29 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $35 and standard deviation of $2. Find the margin of error at a 90% confidence level. Give your answer to two decimal places.
In a survey, 21 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $45 and standard deviation of $7. Find the margin of error at a 95% confidence level.Give your answer to two decimal places.
In a survey, 18 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $34 and standard deviation of $3. Find the MARGIN OF ERROR at a 99% confidence level.Give your answer to two decimal places.