Question:

Based on a recent study of college students, the average student loan debt amount is $4000. Is the mean student loan debt higher at StatCrunchU?

please explain extensively each of the following;

State the hypotheses in symbolic form and in words.

Verify that normality conditions are met.Which test are you using? Why?

Give P-value and interpret its meaning in the context

State a conclusion that answers the research question. Use a significance level of 5%.

I utilized StatCrunch to conduct the hypothesis test, and I attached it with question

One sample T hypothesis test: u : Mean of variable Ho : u = 4000 HA :U > 4000 Hypothesis test results: Variable Sample Mean Std. Err. DF T-Stat P-value Loans 4011.03 558.45057 99 0.019751077 0.4921