Question

A study reports that recent college graduates from New Hampshire face the highest average debt of $31,048 (The Boston Globe, May 27, 2012). A researcher from Connecticut wants to determine how recent undergraduates from that state fare. He collects data on debt from 40 recent undergraduates.
A portion of the data is shown below; the complete data set, labeled CT_Undergrad_Debt, can be found on the text website. Assume that the population standard deviation is $5,000.
Debt
87
86
:
86
a. Use Excel to construct the 95% confidence interval for the mean debt of all undergraduates from Connecticut.
b. Use the 95% confidence interval to determine if the debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.



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  • CreatedJanuary 28, 2015
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