62. Credit card debt public or private. The average credit card debt carried by college students was compared at public versus private universities. It was reported that a significant difference existed between the two types of institutions and that students at private universities carried higher credit card debt.

a) Explain what “statistically significant” means in this context.

b) If this conclusion is incorrect, which type of error was committed?

c) Does this prove that students who choose to attend public institutions will carry lower credit card debt?