Students Who Graduated from College Last Year Owed an Average

question 83

Multiple Choice

Students who graduated from college last year owed an average of $25,250 in student loans. An economist wants to determine if average debt has changed. She takes a sample of 40 recent graduates and finds that their average debt is $27,500 with a standard deviation of $9,120. Use 90% confidence interval. Which of the following conclusion is correct?

• A) The average debt decreased.
• B) The average debt increased.
• C) The average debt has not changed.
• D) There is not enough information.

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Definitions:

Cultural Perspective

A viewpoint that is shaped by the cultural context, including beliefs, values, and practices, influencing how individuals interpret the world.

Eastern Perspectives

Refers to philosophical, religious, and cultural viewpoints and practices originated or developed in East Asia, South Asia, and Southeast Asia.

Power Distance

is a cultural dimension that describes the degree to which less powerful members of a society accept and expect power to be distributed unequally.

Unequal Power

A situation or relationship where power is distributed unevenly among individuals or groups, often leading to domination and subordination.