The average student-loan debt is reported to be $25,235. A student believes that the student-loandebt is higher in her area. She takes a random sample of 100 college students in her area anddetermines the mean student-loan debt is $27,524 and the standard deviation is $6,000. Is theresufficient evidence to support the student's claim at a 5% significance level?Preliminary:a. Is it safe to assume that n < 5% of all college students in the local area?YesO Nob. is n> 30?YesO NOTest the claim:c. Determine the null and alternative hypotheses. Enter correct symbol and value.Ho:Ημ?νd. Determine the test statistic. Round to two decimals.te. Find the p-value. Round to 4 decimals.p-value =f. Make a decision.O Fail to reject the null hypothesis.O Reject the null hypothesis.

The question is about hypothesis testing.Given :Population mean student loan debt ( ) = $25235Randomly selected no. of students ( n ) = 100Sample mean loan debt ( ) = $27524Sample standard deviation of student loan debt ( s ) = $6000To find :Is there sufficient evidence to support the student's claim.a )Suppose, total no. of students in a college ( N ) are 100000So, Here, n = 100 which is less than 5000.Hence, it is safe to assume that of all college students.Answer : Yes : Option 1b )n = 100 which is greater than 30.Answer : Yes : Option 1c )Null and alternative hypothesis :Claim : Student loan debt is higher.The word " higher " indicates > sign, so it would go under alternative hypothesis.Hence,d )The formula is tiven bye )p value approach :Since the alternative hypothesis has > sign, so it is a right tailed test.Using excel command, So,f )Decision rule :i ) Reject H0 if ii ) Fail to reject H0 if Given : Here, Hence, reject H0Conclusion :There is sufficient evidence to support the claim that the student loan debt is higher.a )It is safe to assume that of all college students.Answer : Yes : Option 1b )Answer : Yes : Option 1c )d )Test statistic ( t ) = 3.82e ) p value = 0.0001f ) Decision : Reject H0 ( null hypothesis )