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Problem 21 As part of a study on student loan debt, a national agency that underwrites student loans is examining the differences in student loan
Problem 21 As part of a study on student loan debt, a national agency that underwrites student loans is examining the differences in student loan debt for undergraduate students and graduate students. To conduct the study, a random sample of 92 undergraduate students and a random sample 110 graduate students who completed a degree in 2009 were taken. The sample standard deviation for the undergraduate students was $4700 and the sample standard deviation for the graduate students was $5800. The debt incurred for financing college for each sampled student was collected. Let uu denote the population average student loan debt for undergraduate students, and ug be the population average student loan debt for graduate students. Find the power of the test if they want to detect an effect size of $2000. Make sure to include any relevant graphs to illustrate the power. Problem 21 As part of a study on student loan debt, a national agency that underwrites student loans is examining the differences in student loan debt for undergraduate students and graduate students. To conduct the study, a random sample of 92 undergraduate students and a random sample 110 graduate students who completed a degree in 2009 were taken. The sample standard deviation for the undergraduate students was $4700 and the sample standard deviation for the graduate students was $5800. The debt incurred for financing college for each sampled student was collected. Let uu denote the population average student loan debt for undergraduate students, and ug be the population average student loan debt for graduate students. Find the power of the test if they want to detect an effect size of $2000. Make sure to include any relevant graphs to illustrate the power
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