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.

H0: μ=______

Ha: μ= Select an answer > ,not =, < _______(Put in the correct symbol and value)

b) Determine the test statistic. Round to two decimals.

t=______

c) Find the p-value. Round to 4 decimals.

P-value = ______

d) Make a decision. Select one.

• Fail to reject the null hypothesis
• Reject the null hypothesis

e) Write the conclusion. Select one.

• 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.

Answer 1