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The Department of Education would like to test the hypothesis that the average debt load of graduating students with a Bachelor's degree is equal to $17,000. A random sample of 34 students had an average debt load of $18,200. It is believed that the population standard deviation for student debt load is $4,200. The Department of Education would like to set α = 0.05. The conclusion for this hypothesis test would be that because the absolute value of the test statistic is______
Level Of Significance
The probability of rejecting the null hypothesis when it is actually true, often denoted by alpha (α).
Null Hypothesis
A default hypothesis that there is no significant difference or effect, tested against the alternative hypothesis.
Critical Value
A point on the scale of the test statistic beyond which we reject the null hypothesis; it depends on the chosen level of significance.
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