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 p-value for this hypothesis test would be
-----.
A)0.0950
B)0.0219
C)0.0475
D)0.1310

Question

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 p-value for this hypothesis test would be 
-----.
A)0.0950
B)0.0219
C)0.0475
D)0.1310

Quizplus · Accepted Answer

The Answer of 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 p-value for this hypothesis test would be 
-----.
A)0.0950
B)0.0219
C)0.0475
D)0.1310

The Department of Education Would Like to Test the Hypothesis