Exhibit: Average Debt Load.

The Department of Education would like to check if the average debt load of graduating students with a bachelor's degree is different from $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 significance levelis set to 0.02 for the hypothesis test.

Round your solutions for this Exhibit to4 decimal places.

Question 38:

Refer to the Exhibit Average Debt Load.

Calculate the critical value for the test:

Question 39

Refer to the Exhibit Average Debt Load.

State your conclusion for the test.

a.z/2

b.z/2

c. zx>z/2we reject Ho. Therefore, there is enough evidence to conclude that the average debt load of graduating students with a bachelor's degree is different from $17,000.

d.zx