Student Debt � Vermont (Raw Data, Software Required) The average st.docx

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Student Debt Vermont (Raw Data, Software Required): The average student loan debt of a U.S. college student at the end of 4 years of college is estimated to be about $22,400. You take a random sample of 40 college students in the state of Vermont. The debt for these students is found in the table below. We want to construct a 99% confidence interval for the mean debt for all Vermont college students. You will need software to answer these questions. You should be able to copy and paste the data directly from the table into your software program. (a) What is the point estimate for the mean debt of all Vermont college students? Round your answers to the nearest whole dollar. $ �� (b) Construct the 99% confidence interval for the mean debt of all Vermont college students. Round your answers to the nearest whole dollar. < < ��� (c) Are you 99% confident that the mean debt of all Vermont college students is greater than the quoted national average of $22,400 and why? No, because $22,400 is below the lower limit of the confidence interval for Vermont students.
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