A random sample of 10 colleges from Kiplinger’s 100 Best Values in Public Education was taken. The mean debt after graduation was $18,546 with a margin of error of $1398. The distribution of debts is Normal.
a. Decide whether each of the following statements is worded correctly for the confidence interval, and fill in the blanks for the correctly worded one(s).
i. We are 95% confident that the boundaries for the interval are __ and ___.
ii. We are 95% confident that the sample mean is between ___ and ___.
iii. We are 95% confident that the population mean is between __ and ___.
b. Can we reject a population mean of $18,000 on the basis of these numbers? Explain.

  • CreatedJuly 16, 2015
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