A study reports that recent college graduates from New Hampshire face the highes
ID: 3257409 • Letter: A
Question
A study reports that recent college graduates from New Hampshire face the highest average debt of $31,678 (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.
Use Excel to construct the 95% 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.)
Use the 95% confidence interval to determine if the debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.
A study reports that recent college graduates from New Hampshire face the highest average debt of $31,678 (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.
Explanation / Answer
std error of mean =std deviaiton/(n)1/2 =5100/(40)1/2 =806.3808
for 95% CI; z=1.960
hence confidence interval =sample mean -/+ z*std error =23890.29 ; 27051.31
b)
as above interval is below 31678 hence
The debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.
Debt 24,036 19,159 26,764 31,921 31,531 34,212 14,629 24,375 31,022 20,109 22,090 17,094 16,308 20,649 21,672 14,951 22,696 23,523 26,213 23,708 23,904 23,695 32,250 25,120 24,612 22,969 35,407 29,870 37,423 22,271 33,845 17,478 28,239 30,047 35,131 25,118 22,919 28,911 23,634 29,327 total 10,18,832 mean=total/40 25470.8Related Questions
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