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In a study entitled “How Much Undergraduate Students Drink”, it was reported that undergraduate students spend...


In a study entitled “How Much Undergraduate Students Drink”, it was reported that undergraduate students spend $868. This figure was an all-time high and had increased 44% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the expenditure of students on alcohol has continued to increase compared to the original report. Based on previous studies, use a population standard deviation of $400.

1.   State the Null and alternative hypotheses                  
2.   What is the p-value for a sample of 400 undergraduate students with a sample mean credit card balance of $907?                          
3.   Using a 0.05 level of significance, what is your conclusion?       

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