The mean time to earn a bachelor's degree is 5.8 years (Education Planning Resources website, December 5, 2015). Suppose you would like to determine whether the mean time to earn a bachelor's degree is significantly less for students who attend private universities. Data on the time to earn a bachelor's degree for a random sample of 50 individuals who recently earned their bachelor's degrees from private universities are available in the DATAfile named YearsToGrad.
a. State the hypotheses that should be used to test whether the mean time to earn a bachelor's degree is significantly less for students who attend private universities.
b. U se the data in the DATAfile named YearsToGrad to compute the sample mean, the test statistic, and the p-value.
c. Use a 5 .05. What is your conclusion?
d. Repeat the hypothesis test using the critical value approach.