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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