Creating confidence interval for true mean debt

Assignment Help Basic Statistics

Reference no: EM1317129

Q1) National Student Loan Survey gathers data to study questions related to amount of money that borrowers owe. Survey selected a sample of 1280 borrowers who began repayment on their loans between 4 and 6 months prior to survey. Mean debt for undergraduate study was $18,900 and standard deviation was about $49,000. Create a 95% confidence interval for true mean debt for student borrowers.

Following six students were questioned regarding (X) their attitudes toward legalization of prostitution and (Y) their attitudes toward legalization of marijuana.

a) Calculate and interpret Pearson's correlation coefficients for these data whether correlation is significant at alpha level .05 (using all your steps for hypothesis testing).

b) Calculate and interpret the constant (a) and slope (b) for these data and test whether this relationship is important at alpha level .05 (go through all of your steps of hypothesis testing). Standard error of b is .084.

	x	y
A	1	2
B	6	5
C	4	3
D	3	3
E	2	1
F	7	4

Reference no: EM1317129

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