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I’m interested in studying the amount of student debt that Georgetown students graduate with. I take...

I’m interested in studying the amount of student debt that Georgetown students graduate with. I take a random sample of Georgetown students of size 144. The sample average of the data is $42,333 with a sample variance of $150 million.

(A) (5 points) Construct an 80% confidence interval for the population mean Georgetown student debt at graduation.

(B) (5 points) It is proposed by a reporting agency that the average student debt coming out of Loyola is $35,000. You believe it is actually higher than this. What are the null and alternative hypotheses that you wish to test here?

(C) (5 points) What is the value of the test statistic for testing this hypothesis?

(D) (5 points) If this test was performed at the α = 0.1 level, what is the rejection region for this test?

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Math   Statistics-And-Probability   
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