(Solved):
A study reports that recent college graduates from Connecticut face the highest average debt of \( ...
A study reports that recent college graduates from Connecticut face the highest average debt of \( \$ 31,424 \) (forbes.com, September 18, 2019). A researcher from Pennsylvania wants to determine how recent undergraduates from that state fare. He collects data on debt from 40 recent undergraduates. Assume that the population standard deviation is \( \$ 5,000 \). (You may find it useful to reference the z table.) a. Construct the \( 95 \% \) confidence interval for the mean debt of all undergraduates from Pennsylvania. (Do not round intermediate calculations. Round " \( z^{\prime \prime} \) value to 3 decimal places and final answers to 2 decimal places.) Answer is complete but not entirely correct. b. Use the \( 95 \% \) confidence interval to determine if the debt of Pennsylvania undergraduates differs from that of Connecticut undergraduates. The debt of Connecticut undergraduates differs from that of New Hampshire undergraduates.