ACCT 2001: Chapter 8 Question 7

A study reports that recent college graduates from Connecticut face the highest average debt of $31,434 (forbes.com, September 18 , 2019). A researcher from Pennsylvania wants to determine how recent undergraduates from that state fare. He collects data on debt from 40 recent undergraduates. Assume that the population standard deviation is $5,000. (You may find it useful to reference the Z table.) Epicture Click here for the Excel Data File a. Construct the 90% confidence interval for the mean debt of all undergraduates from Pennsylvania. (Do not round intermediate calculations. Round " z " value to 3 decimal places and final answers to 2 decimal places.) b. Use the 90% confidence interval to determine if the debt of Pennsylvania undergraduates differs from that of Connecticut undergraduates. The debt of Connecticut undergraduates differs from that of New Hampshire undergraduates. The debt of Connecticut undergraduates does not differ from that of New Hampshire undergraduates