Question: According to an estimate the average total parent and student
According to an estimate, the average total parent and student debt for new college graduates was $34,400 in 2010–11 (Time, October 31, 2011). A random sample of 500 of this year’s graduates showed that their average such debt is $38,460 with a standard deviation of $5600. Do the data provide significant evidence at a 1% significance level to conclude that the current average total parent and student debt for new graduates is higher than $34,400? Use both the p-value approach and the critical-value approach.
Relevant QuestionsThe manager of a service station claims that the mean amount spent on gas by its customers is $15.90 per visit. You want to test if the mean amount spent on gas at this station is different from $15.90 per visit. Briefly ...For each of the following examples of tests of hypothesis about the population proportion, show the rejection and non-rejection regions on the graph of the sampling distribution of the sample proportion. a. A two-tailed test ...Consider H0: p = .45 versus H1: p < .45. a. A random sample of 400 observations produced a sample proportion equal to .42. Using α = .025, would you reject the null hypothesis? b. Another random sample of 400 observations ...According to a Pew Research Center nationwide telephone survey of American adults conducted by phone between March 15 and April 24, 2011, 75% of adults said that college education has become too expensive for most people and ...Multiple choice questions: 1. A test of hypothesis is always about a. A population parameter b. A sample statistic c. A test statistic 2. A Type I error is committed when a. A null hypothesis is not rejected when it is ...
Post your question