Exercise 8-13 Static A study reports that recent college graduates from Connecticut face the highest average debt of $38,510 (forbescom. September 18, 2019). A researcher from Pennsylvania wants to determine how recent undergraduates from that state fare. The accompanying le contains data on debt from 40 recent undergraduates. Assume that the population standard deviation is $5,000. (You may find it useful to reference the 2 table.) EinctureClick here for the Excel Data File 5. Construct the 95% confidence interval for the mean debt ofall undergraduates from Pennsylvania. (Round final answers to 2 decimal places.) 9 Answer is complete but not entirely correct. Confidence interval 29,669 50 6 to 32,392.50 9 b. Use the 95% confidence interval to determine if the debt of Pennsylvania undergraduates differs from that of Connecticut undergraduates. The debt of Pennsylvania undergraduates differs from that of Connecticut undergraduates. O The debt of Pennsylvania undergraduates does not differ from that of Connecticut undergraduates. Exercise 8-69 Static A survey reported that approximately 70% of people in the 50 to 64 age bracket have tried some type of alternative therapy (for instance, acupuncture or the use of nutrition supplements). Assume this survey was based on a sample of 400 people. (You may find it useful to reference the z table.) a-1. Identify the relevant parameter of interest for this categorical variable. O The parameter of interest is the mean of all people between the ages of 50-64. The parameter of interest is the proportion of all people between the ages of 50-64. a-2. Compute the point estimate as well as the margin of error with 90% confidence. (Round final answers to 3 decimal places.) x Answer is complete but not entirely correct. Point estimate 0.700 Margin of error 0.020 X b. You decide to redo the analysis with the margin of error reduced to 2%. How large a sample do you need to draw? (Round up final answer to nearest whole number.) Answer is complete and correct. Sample size 1,421