For Exercises assume that all variables are normally distributed, that the samples are independent, that the population variances are equal, and that the samples are simple random samples, one from each of the populations. Also, for each exercise, perform the following steps.

a. State the hypotheses and identify the claim.
b. Find the critical value.
c. Compute the test value.
d. Make the decision.
e. Summarize the results, and explain where the differences in the means are.
Use the traditional method of hypothesis testing unless otherwise specified.

The average undergraduate student loan for a recent year was $8500. A random sample of students from three different schools revealed the following loan amounts for the last school year. Based on the α = 0.05 level of significance, is there a difference in means?

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College A 9,000 10,500 12,600 10,900 15,000 11,000 College B 10,000 15,000 16,000 14,500 12,000 College C 12,000 15,000 16,500 15,500 14,000 12,800