Question

The average student loan debt amongst households in Oregon is $8,400. A hypothesis test is to...

The average student loan debt amongst households in Oregon is $8,400. A hypothesis test is to be performed to test whether the mean student loan debt for households in Portland, OR, is the same as the mean student loan debt for the state of Oregon. Collecting data for sample of 31 households yielded a sample mean student loan debt of $9,800 and sample std. dev. of $4,700. Use sig. level of α = 0.05.

(a) State the Hypothesis to be tested.

(b) Compute the appropriate test statistic.

c) Obtain the appropriate critical value.

(d) Carefully state the conclusion from the hypothesis test.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The average student loan debt is reported to be $25,235. A student belives that the student...
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. H0H0: μ=μ= HaHa: μμSelect an answer < not = >   (Put...
The average student loan debt is reported to be $25,235. A student belives that the student...
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 =,...
Test the Hypotheses Below Null Hypothesis: Mean Student Debt in 2011 is equal to Mean Student...
Test the Hypotheses Below Null Hypothesis: Mean Student Debt in 2011 is equal to Mean Student Debt in 2007 Alternative Hypothesis: Mean Student Debt in 2011 is not equal to Mean Student Debt in 2007 Alpha Level = 0.05 t-Test: Two-Sample Assuming Equal Variances Variable 1 Variable 2 Mean 3925.76 2876.82 Variance 222129.8188 140278.3547 Observations 50 50 Pooled Variance 181204.0867 Hypothesized Mean Difference 0 df 98 t Stat 12.32073615 P(T<=t) one-tail 6.27467E-22 t Critical one-tail 1.660551217 P(T<=t) two-tail 1.25493E-21 t...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $22,600. You take a random sample of 136 college students in the state of Vermont and find the mean debt is $23,500 with a standard deviation of $2,200. We want to construct a 90% confidence interval for the mean debt for all Vermont college students. (a) What is the point estimate for the...
Test the Hypotheses Below Null Hypothesis: Mean Student Debt in 2011 is equal to Mean Student...
Test the Hypotheses Below Null Hypothesis: Mean Student Debt in 2011 is equal to Mean Student Debt in 2007 Alternative Hypothesis: Mean Student Debt in 2011 is not equal to Mean Student Debt in 2007 Alpha Level = 0.05 Variable 1 Variable 2 Mean 3925.76 2876.82 Variance 222129.8188 140278.3547 Observations 50 50 Pooled Variance 181204.0867 Hypothesized Mean Difference 0 df 98 t Stat 12.32073615 P(T<=t) one-tail 6.27467E-22 t Critical one-tail 1.660551217 P(T<=t) two-tail 1.25493E-21 t Critical two-tail 1.984467455 Run the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $21,900. You take a random sample of 146 college students in the state of Vermont and find the mean debt is $23,000 with a standard deviation of $2,200. You want to construct a 99% confidence interval for the mean debt for all Vermont college students. (a) What is the point estimate for the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $23,800. You take a random sample of 136 college students in the state of Vermont and find the mean debt is $25,000 with a standard deviation of $2,600. You want to construct a 99% confidence interval for the mean debt for all Vermont college students. (a) What is the point estimate for the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the...
Student Debt – Vermont: The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $22,500. You take a random sample of 141 college students in the state of Vermont and find the mean debt is $23,500 with a standard deviation of $2,800. You want to construct a 90% confidence interval for the mean debt for all Vermont college students. (a) What is the point estimate for the...
The average student loan debt for 2016 college graduates who borrowed to get through school was...
The average student loan debt for 2016 college graduates who borrowed to get through school was $37,172. Is this still true today? You get a random sample of 150 recent college graduates and find that their mean student loan is $36,654 with a standard deviation of $4,000. Test the claim at the 5% significance level using PHANTOMS.
Student Debt – Vermont (Raw Data, Software Required): The average student loan debt of a U.S....
Student Debt – Vermont (Raw Data, Software Required): The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $22,400. You take a random sample of 40 college students in the state of Vermont. The debt for these students is found in the table below. We want to construct a 99% confidence interval for the mean debt for all Vermont college students. You will need software to answer...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT