orA study reports that recent college graduates from New Hampshire face the high
ID: 3242454 • Letter: O
Question
orA study reports that recent college graduates from New Hampshire face the highest average debt of $31,325 (The Boston Globe, May 27, 2012). A researcher from Connecticut wants to determine how recent undergraduates from that state fare. He collects data on debt from 40 recent undergraduates. A portion of the data is shown below. Assume that the population standard deviation is $5,100.
Use Table 1.
Debt 24,038 23,906 19,148 23,692 26,765 32,253 31,926 25,115 31,536 24,612 34,210 22,972 14,619 35,404 24,375 29,874 31,016 37,418 20,106 22,265 22,092 33,852 17,084 17,482 16,305 28,232 20,649 30,048 21,670 35,140 14,954 25,121 22,704 22,922 23,516 28,914 26,210 23,635 23,714 29,324
a. Use Excel to construct the 90% confidence interval for the mean debt of all undergraduates from Connecticut. (Do not round intermediate calculations. Round "z-value" to 3 decimal places and final answers to 2 decimal places.) Confidence interval _____to______
b. Use the 90% confidence interval to determine if the debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.
A. The debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.
B.The debt of Connecticut undergraduates does not differ from that of New Hampshire undergraduates.
Explanation / Answer
The statistical software outout for this problem is:
One sample Z confidence interval:
: Mean of variable
Standard deviation = 5100
90% confidence interval results:
Hence,
a) 90% confidence interval will be:
24144.07 to 26796.83
b) Option A is correct.
Variable n Sample Mean Std. Err. L. Limit U. Limit var5 40 25470.45 806.3808 24144.072 26796.828Related Questions
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