Math Problem Statement
A researcher believes that average student debt is more than $25,000. Assume that the population standard deviation is $5,000.
a. What is the mean student debt of the sample?
Solution
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Math Problem Analysis
Mathematical Concepts
Hypothesis Testing
Population Mean
Standard Deviation
Normal Distribution
Formulas
z = (x̄ - μ) / (σ / √n)
Null hypothesis (H₀): μ = 25,000
Alternative hypothesis (Hₐ): μ > 25,000
Theorems
Central Limit Theorem
Z-Test for One Mean
Suitable Grade Level
College-level Statistics
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