TESTS OF HYPOTHESIS: Class survey data was entered into STATISTIX and the goal w

Question

TESTS OF HYPOTHESIS: Class survey data was entered into STATISTIX and the goal was to conduct a test to determine if the average student loan debt of all students exceeds $7,500. Unfortunately I created the wrong printout in Statistix below. One-Sample T Test Null Hypothesis: = 7500 Alternative Hyp: 7500 Variable Mean SE T DF P Debt 10750 1831.6 1.77 67 0.0805 Cases Included 68 Notice that the alternative hypothesis that was used does not match the test we desire. Give the p-value that should be used if we wish to conduct a one-tailed test. A. .1610 B. .9195 C. .0805 D. .04025

Explanation / Answer

Here statistic T = 1.77

Degrees of freedom df= 67

Correct Alternative hypothesis is Ha: mu > 7500

So P value= P(T > 1.77 )

= 0.04064

Use Excel command as = tdist(1.77,67 ,1) then hit on enter

T= 1.77

Df=67

Alternative is one tail so 1

Answer: D ) 0.04025

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