8.115 Student Loan Debt In a study done, the inci- dence of university student loan debt in...

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8.115 Student Loan Debt In a study done, the inci- dence of university student loan debt in Alberta was found to be 48.6% as compared to the national average of 42%.27 The amount of student debt among Alberta graduates was $17,900, less than the national average of $18,900. A group of n = 49 Albertan's university students are randomly selected, and the average stu- dent loan debt is found to be $18,500 with a standard deviation of 700. Construct a 99% confidence interval for the true average student loan debt for university students in Alberta. Does this contradict the reported average of $17,900? Explain.

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