Rare Events, the Sample, Decision and Conclusion · Exercise 17
A random survey of 75 student loan recipients revealed that the mean length of time in repayment is 17.4 years with a standard deviation of 6.3 years. Conduct a hypothesis test to determine if the population mean time in repayment could likely be 15 years.
(a) Is this a test of one mean or proportion?
(b) State the null and alternative hypotheses.
H_0: ____________________ H_a: ____________________
(c) Is this a right-tailed, left-tailed, or two-tailed test?
(d) What symbol represents the random variable for this test?
(e) In words, define the random variable for this test.
(f) Is the population standard deviation known and, if so, what is it?
(g) Calculate the following:
(a) = _____________
(b) s = ____________
(c) n = ____________
(h) Which test should be used?
(i) State the distribution to use for the hypothesis test.
(j) Find the p-value.
(k) At a pre-conceived α = 0.05, what is your:
(a) Decision:
(b) Reason for the decision:
(c) Conclusion (write out in a complete sentence):
Its source prints no answer for this problem, so there's nothing to check against.
OpenStax, Introductory Statistics 2e · §9.4 Rare Events, the Sample, Decision and Conclusion · Exercise 17
No hints for this one.
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