The Department of Education Would Like to Test the Hypothesis - Statistics Assignment Help

Assignment Task

2. 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 u = 0.05. Which one of these statements is true?
a. Because the p-value is greater than a, we fail to reject the null hypothesis and cannot conclude that the average debt load is not equal to $17 ,OOO.
b. Because the p-value is less than a, we fail to reject the null hypothesis and conclude that the average debt load is not equal $17,000.
c. Because the p-value is greater than a, We fail to reject the null hypothesis and conclude that the average debt load is equal to $17,000.
d. Because the p-value is less than a, we reject the null hypothesis and conclude that the average debt load is equal to $17,000.
 

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