Question

It is claimed that upon graduation, the average debt a student will have to pay the college is no more than $14,500. Test this claim against sample results at a level of significance of 10% and draw a conclusion. How much weight of evidence does the sample data hold against the null hypothesis?

(please show me the steps)

data set:

SCHOOL	AVGDEBT	GRADRATE
University of Missouri, Rolla	17991	0.1
New Mexico Institute of Mining and Technology	9500	0.12
University of Nebraska, Lincoln	15682	0.15
California Polytechnic State University, San Luis Obispo	12842	0.17
Georgia Institute of Technology	17221	0.18
Kansas State University	17000	0.18
Mississippi State University	15081	0.19
University of Oklahoma	16886	0.19
University of Arkansas	14029	0.2
Rutgers, The State University of New Jersey, Camden	15223	0.21
Mississippi University for Women	13500	0.21
State University of New York at New Paltz	15000	0.21
Michigan Technological University	15711	0.22
University of Wyoming	18311	0.22
Oklahoma State University	15580	0.22
Texas Tech University	13805	0.22
University of Connecticut	16093	0.23
University of Wisconsin, La Crosse	14306	0.23
Louisiana State University and Agricultural and Mechanical College	17569	0.23
Iowa State University of Science and Technology	17119	0.24
University of Tennessee	21689	0.24
Ohio State University	15011	0.25
North Carolina State University	15476	0.25
George Mason University	14143	0.25
University of Central Florida	14927	0.25
University of Kansas	17347	0.26
Texas A&M University	15670	0.27
Purdue University	15677	0.28
University of Maryland, Baltimore County	14500	0.28
University of California, Davis	13507	0.28
Illinois State University	13921	0.28
University of Maine	17917	0.29
Colorado State University	16042	0.29
University of Mississippi	14459	0.29
University of Arizona	17340	0.29
University of Northern Iowa	15786	0.3
Stony Brook University, State University of New York	15747	0.3
Towson University	15530	0.3
Colorado School of Mines	17500	0.31
University of North Carolina at Asheville	14547	0.31
University of South Carolina	15260	0.31
Michigan State University	18663	0.31
Brigham Young University	11000	0.31
University of Alabama	18978	0.31
Appalachian State University	13000	0.31
College of Charleston	15135	0.32
University at Buffalo, The State University of New York	16255	0.32
University of Missouri, Columbia	17137	0.32
University of Maryland, College Park	15566	0.33

Answer 1

using minitab>stat>baic stat>one sample t

we have

One-Sample T: AVGDEBT

Test of μ = 14500 vs < 14500

Variable N Mean StDev SE Mean 90% Upper Bound T P
AVGDEBT 49 15636 2047 292 16016 3.89 1.000

the value of test statistic t = 3.89

p-value is 1.000 since p-value is greater than 0.10 so we do not have sufficient evidence to conclude that the average debt a student will have to pay the college is no more than $14,500

0% weight of evidence the sample data hold against the null hypothesis