EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Chapter 3, Problem 65SE
The U.S. Department of Education reports that about 50% of all college students use a student loan to help cover college expenses (National Center for Educational Studies, January 2006). A sample of students who graduated with student loan debt is shown here. The data, in thousands of dollars, show typical amounts of debt upon graduation.
10.1 14.8 5.0 10.2 12.4 12.2 2.0 11.5 17.8 4.0
- a. For those students who use a student loan, what is the
mean loan debt upon graduation? - b. What is the variance? Standard deviation?
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Borrowing money may be necessary for business expansion. However, too much borrowed money can also mean trouble. Are developing countries tending to borrow more? A random sample of 20 developing countries gave the following information regarding foreign debt per capita (in U.S. dollars, inflation adjusted). (Reference: Handbook of International Economic Statistics, U.S. Government Documents.)
Country
1
2
3
4
5
6
7
8
9
10
Modern Debt per Capita
175
152
123
121
99
89
39
22
24
87
Historic Debt per Capita
145
137
85
114
59
67
33
31
45
76
Country
11
12
13
14
15
16
17
18
19
20
Modern Debt per Capita
26
25
12
23
193
182
142
124
107
78
Historic Debt per Capita
28
12
14
27
105
151
143
114
116
73
Does this information indicate that foreign debt per capita is increasing in developing countries? Use a 0.05 level of significance.
(a) What is the level of significance?State the null and alternate hypotheses.
H0: Distributions are the same.H1: Modern debt distribution is…
Borrowing money may be necessary for business expansion. However, too much borrowed money can also mean trouble. Are developing countries tending to borrow more? A random sample of 20 developing countries gave the following information regarding foreign debt per capita (in U.S. dollars, inflation adjusted). (Reference: Handbook of International Economic Statistics, U.S. Government Documents.)
Country
1
2
3
4
5
6
7
8
9
10
Modern Debt per Capita
175
152
125
124
95
83
34
29
21
89
Historic Debt per Capita
147
134
86
113
58
62
33
36
49
72
Country
11
12
13
14
15
16
17
18
19
20
Modern Debt per Capita
23
28
18
29
197
189
144
124
102
71
Historic Debt per Capita
24
12
12
29
106
156
145
119
118
76
Does this information indicate that foreign debt per capita is increasing in developing countries? Use a 0.01 level of significance.
(a) What is the level of significance?
Compute the sample test statistic.
Find the P-value of the sample test statistic.
Help me fast
Chapter 3 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
Ch. 3.1 - Consider a sample with data values of 10, 20, 12,...Ch. 3.1 - Consider a sample with data values of 10, 20, 21,...Ch. 3.1 - Consider the following data and corresponding...Ch. 3.1 - Consider the following data. Period Rate of Return...Ch. 3.1 - Consider a sample with data values of 27, 25, 20,...Ch. 3.1 - Consider a sample with data values of 53, 55, 70,...Ch. 3.1 - The average number of minutes Americans commute to...Ch. 3.1 - During the 2007-2008 NCAA college basketball...Ch. 3.1 - Endowment income is a critical part of the annual...Ch. 3.1 - The cost of consumer purchases such as...
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