The Department of Education would like to test the hypothesis that the average d

ID: 3057618 • Letter: T

Question

The Department of Education would like to test the hypothesis that the average debt load of graduating students with a Bachelor's degree is equal to $17,000. A random sample of 34 students had an average debt load of $18,200. It is believed that the population standard deviation for student debt load is $4,200. The Department of Education would like to set = 0.05. The conclusion for this hypothesis test would be that because the absolute value of the test statistic is

less than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.

more than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.

more than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.

less than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.

less than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.

more than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.

more than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.

less than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.

Explanation / Answer