Question

The Department of Education would like to test the hypothesis
that the average debt load of graduating students with a Bachelor's
degree is equal to $17,000. A random sample of 34 students had an
average debt load of $18,200. It is believed that the population
standard deviation for student debt load is $4,200. The Department
of Education would like to set *α* = 0.05. The
conclusion for this hypothesis test would be that because the
absolute value of the test statistic is

more than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000. |
||

less than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000. |
||

less than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000. |
||

more than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000. |

Answer #1

null hypothesis:Ho μ | = | 17000 | |

Alternate Hypothesis:Ha μ | ≠ | 17000 | |

for 0.05 level with two tail test , critical z= | 1.960 | ||

Decision rule:reject Ho if absolute test stat|z|>1.96 | |||

population mean μ= | 17000 | ||

sample mean 'x̄= | 18200.000 | ||

sample size n= | 34.00 | ||

std deviation σ= | 4200.000 | ||

std error ='σx=σ/√n= | 720.2941 | ||

test stat z = '(x̄-μ)*√n/σ= | 1.67 |

since test statistic does not falls in rejection region we fail to reject null hypothesis |

**less than the absolute value of the critical value, we
cannot conclude that the average student debt load is not equal to
$17,000.**

The Department of Education would like to test the hypothesis
that the average debt load of graduating students with a bachelor's
degree is equal to $17,000. A random sample of 34 students had an
average debt load of $18,200. It is believed that the population
standard deviation for student debt load is $4,200. The α is set to
0.05. (a) Perform a hypothesis test showing all steps.

The Department of Education would like to test the hypothesis
that the average debt load of graduating students with a bachelor’s
degree is equal to $17,000. A random sample of 34 students had an
average debt load of $18,200. It is believed that the population
standard deviation for student debt load is $4,200. The α is set to
0.05. The confidence interval for this hypothesis test would be
__________________.
Multiple Choice
[$16,279.7, $17,720.3]
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