The Department of Education Would Like to Test the Hypothesis

question 23

Multiple Choice

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 α is set to 0.05.The p-value for this hypothesis test would be ______.

• A) 0.1310
• B) 0.0950
• C) 0.0475
• D) 0.0219

---

Definitions:

Net Sales

The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and discounts.

Account Receivable

Accounts Receivable are amounts owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Write Off

An accounting action taken to recognize that an asset has lost its value and is removed from the balance sheet.

Cash

Money in the form of coins or banknotes, especially that used to operate a business on a day-to-day basis.