Question
3. The Department of Education would like to test the hypothesis that the average debt load of graduating students with degree is equal to $17,000.
3. The Department of Education would like to test the hypothesis that the average debt load of graduating students with degree is equal to $17,000. A random sample of 34 students had an average debt load of $18,200. It is believed that standard deviation for student debt load is $4,200. The Department of Education would like to set x = 0.05. Which one statements is true? OA. 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 to $17,000. B. 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. OC. 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 $17,000. D. Because the p-value is greater than x, we fail to reject the null hypothesis and conclude that the average debt load is equal to $17,000.
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