The Department of Education would like to test the hypothesis that the average debt load of graduating students with a Bachelor's degree is equal to $17,000. A random sample of 34 students had an average debt load of $18,200. It is believed that the population standard deviation for student debt load is $4,200. The Department of Education would like to set α = 0.05. The conclusion for this hypothesis test would be that because the absolute value of the test statistic is______
A) less than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.
B) more than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.
C) more than the absolute value of the critical value, we cannot conclude that the average student debt load is not equal to $17,000.
D) less than the absolute value of the critical value, we can conclude that the average student debt load is not equal to $17,000.
Correct Answer:
Verified
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