Academic: Spending Being a college student is not an easy financial endeavor. In addition to paying for tuition, students also need to pay for rent, food, utilities, etc. This does not even include nonessential discretionary spending. One study claimed that college students spend, on average, m 5$2,082 a month.

To determine if this is true, a random sample of 43 college students were surveyed and showed that in a month they spent a sample mean x 5$1,892 with sample standard deviation s 5$128. Use a 1% level of significance to test the claim that the monthly mean spending of college students is less than $2,082.

AppendixLO1