The average student loan debt is reported to be $25,235. 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.�0: �=��: � (Put in the correct symbol and value)b) Determine the test statistic. Round to two decimals.�=c) Find the p-value. Round to 4 decimals.P-value = d) Make a decision. Reject the null hypothesis Fail to reject the null hypothesis e) Write the conclusion. There is not sufficient evidence to support the claim that student loan debt is higher than $25,235. There is sufficient evidence to support the claim that student loan debt is higher than $25,235.
The average student loan debt is reported to be $25,235. 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.�0: �=��: � (Put in the correct symbol and value)b) Determine the test statistic. Round to two decimals.�=c) Find the p-value. Round to 4 decimals.P-value = d) Make a decision. Reject the null hypothesis Fail to reject the null hypothesis e) Write the conclusion. There is not sufficient evidence to support the claim that student loan debt is higher than $25,235. There is sufficient evidence to support the claim that student loan debt is higher than $25,235.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
The average student loan debt is reported to be $25,235. 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.
�0: �=
��: � (Put in the correct symbol and value)
b) Determine the test statistic. Round to two decimals.
�=
c) Find the p-value. Round to 4 decimals.
P-value =
d) Make a decision.
- Reject the null hypothesis
- Fail to reject the null hypothesis
e) Write the conclusion.
- There is not sufficient evidence to support the claim that student loan debt is higher than $25,235.
- There is sufficient evidence to support the claim that student loan debt is higher than $25,235.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 1 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman