The National Student Loan Survey asked the student loan borrowers in their sampl

Question

The National Student Loan Survey asked the student loan borrowers in their sample about attitudes toward debt. Below are some of the questions they asked, with the percent who responded in a particular way. Assume that the sample size is 1273 for all these questions. Compute a 95% confidence interval for each of the questions, and write a short report about what student loan borrowers think about their debt. (Round your answers to three decimal places.)

(c) "Since leaving school, my education loans have not caused me more financial hardship than I had anticipated at the time I took out the loans." 32.2% disagreed.

( _____ , _____)

(d) "Making loan payments is unpleasant but I know that the benefits of education loans are worth it." 57.7% agreed.

( ______ , ______ )

(e) "I am satisfied that the education I invested in with my student loan(s) was worth the investment for career opportunities." 57.1% agreed.

( _____ , _____ )

(f) "I am satisfied that the education I invested in with my student loan(s) was worth the investment for personal growth." 69% agreed.

( _____ ,_____ )

Explanation / Answer

c) p=0.322

std error=(p(1-p)/n)1/2 =0.013

for 95% CI, z=1.96

hence confidence interval =sample proportion -/+ z*std error =0.2963 ; 0.3477

d)

p=0.577

std error=(p(1-p)/n)1/2 =0.0138

for 95% CI, z=1.96

hence confidence interval =sample proportion -/+ z*std error =0.5499 ; 0.6041

e)

p=0.571

std error=(p(1-p)/n)1/2 =0.0139

for 95% CI, z=1.96

hence confidence interval =sample proportion -/+ z*std error =0.5438 ; 0.5982

f)

p=0.69

std error=(p(1-p)/n)1/2 =0.013

for 95% CI, z=1.96

hence confidence interval =sample proportion -/+ z*std error =0.6646 ; 0.7154

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.