A random sample of the average debt (in dollars) at graduation from 24 of the top 100 public colleges and universities is listed below. 16,012 15,784 16,597 18,105 12,665 14,734 17,225 16,953 15,309 15,297 14,437 14,835 13,607 13,374 19,410 18,385 22,312 16,656 Is there sufficient evidence at the 10% significance level to conclude that the population mean debt at graduation is less than $18,000? 2.What is the required conditions for the statistical test in part (a)? Problem 3 (You should not use MegaStat to answer this question) For a certain year a study reports that the percentage of college students using credit cards was 83%. A college dean of student services feels that this is too high for her university, so she randomly selects 50 students and finds that 40 of them use credit cards. At a = 0.10, is she correct about her university? Calculate the value of the test statistic and state the alternatives, and conclusion. 2.What would your conclusion be if the p-value of the test is equal to 0.0?
Problem 2 (You can use MegaStat to answer this question)
A random sample of the average debt (in dollars) at graduation from 24 of the top 100 public colleges and universities is listed below.
16,012 15,784 16,597 18,105 12,665 14,734
17,225 16,953 15,309 15,297 14,437 14,835
13,607 13,374 19,410 18,385 22,312 16,656
- Is there sufficient evidence at the 10% significance level to conclude that the population mean debt at graduation is less than $18,000?
2.What is the required conditions for the statistical test in part (a)?
Problem 3 (You should not use MegaStat to answer this question)
For a certain year a study reports that the percentage of college students using credit cards was 83%. A college dean of student services feels that this is too high for her university, so she randomly selects 50 students and finds that 40 of them use credit cards.
- At a = 0.10, is she correct about her university? Calculate the value of the test statistic and state the alternatives, and conclusion.
2.What would your conclusion be if the p-value of the test is equal to 0.0?
3.Estimate the population proportion with 90% confidence.
- Check the assumptions of the test you used in (a)
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