Homework Help is Here – Start Your Trial Now!
Math
Statistics
The average student-loan debt is reported to be $25,235 with a population standard deviation of $6000. A student believes that the student-loan debt is higher than 25,235 in her area. She takes a random sample of 100 college students in her area and determines the mean student-loan debt is 27889. Use the Classical Method (compare the test statistic with the Z-critical value) to determine if there is sufficient evidence to support the student's claim at a 5% significance level? Ho: 4-$25,235 Haμ>$25,235 a. Determine the test statistic. Round to 3 decimals. z= b. Find the critical value for z. Round to 3 decimals. Z-crit- c. Make a decision. O Reject the null hypothesis since the z-score for the data is greater than the Z-critical value. Fail to reject the null hypothesis since the z-score for the data is NOT greater than Z-critical value. d. Write the conclusion. O There is not sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. O There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. Question Help: Video Submit Question

The average student-loan debt is reported to be $25,235 with a population standard deviation of $6000. A student believes that the student-loan debt is higher than 25,235 in her area. She takes a random sample of 100 college students in her area and determines the mean student-loan debt is 27889. Use the Classical Method (compare the test statistic with the Z-critical value) to determine if there is sufficient evidence to support the student's claim at a 5% significance level? Ho: 4-$25,235 Haμ>$25,235 a. Determine the test statistic. Round to 3 decimals. z= b. Find the critical value for z. Round to 3 decimals. Z-crit- c. Make a decision. O Reject the null hypothesis since the z-score for the data is greater than the Z-critical value. Fail to reject the null hypothesis since the z-score for the data is NOT greater than Z-critical value. d. Write the conclusion. O There is not sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. O There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. Question Help: Video Submit Question

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question
???
The average student-loan debt is reported to be $25,235 with a population standard deviation of $6000. A student believes that the student-loan debt is higher than 25,235 in her area. She takes a random sample of 100 college students in her area and determines the mean student-loan debt is 27889. Use the Classical Method (compare the test statistic with the Z-critical value) to determine if there is sufficient evidence to support the student's claim at a 5% significance level? Ho: 4-$25,235 Haμ>$25,235 a. Determine the test statistic. Round to 3 decimals. z= b. Find the critical value for z. Round to 3 decimals. Z-crit- c. Make a decision. O Reject the null hypothesis since the z-score for the data is greater than the Z-critical value. Fail to reject the null hypothesis since the z-score for the data is NOT greater than Z-critical value. d. Write the conclusion. O There is not sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. O There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. Question Help: Video Submit Question
Transcribed Image Text:The average student-loan debt is reported to be $25,235 with a population standard deviation of $6000. A student believes that the student-loan debt is higher than 25,235 in her area. She takes a random sample of 100 college students in her area and determines the mean student-loan debt is 27889. Use the Classical Method (compare the test statistic with the Z-critical value) to determine if there is sufficient evidence to support the student's claim at a 5% significance level? Ho: 4-$25,235 Haμ>$25,235 a. Determine the test statistic. Round to 3 decimals. z= b. Find the critical value for z. Round to 3 decimals. Z-crit- c. Make a decision. O Reject the null hypothesis since the z-score for the data is greater than the Z-critical value. Fail to reject the null hypothesis since the z-score for the data is NOT greater than Z-critical value. d. Write the conclusion. O There is not sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. O There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area. Question Help: Video Submit Question
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS