I am lost in a way i have never been lost before. I have gone over the book time and time, googled stuff for help and am at a loss. Can someone please walk me through these two step by step please...
1: it has been reported that the average credit card debt for college seniors is $3262. The student senate at a large university feels like their senoirs have a debt much less than this, so it conducts a study of 50 randomly selected seniors and finds the average debt is $2995, and the population standard deviation is $1100. with probabulity of type 1 error (sorry cant do symbol) being 0.05, is the student senate correct?
2: The mean sallary of a federal employee on the general schedule is $59,593. The average sallary of 30 state employees who do similar work is 58,800 with a standard deviation of $1500. At the 0.01 level of significance, can it be cocnluded that state employees earn an average less than federal employees?
can someone please show me how these are done, step by step please
1: it has been reported that the average credit card debt for college seniors is $3262. The student senate at a large university feels like their senoirs have a debt much less than this, so it conducts a study of 50 randomly selected seniors and finds the average debt is $2995, and the population standard deviation is $1100. with probabulity of type 1 error (sorry cant do symbol) being 0.05, is the student senate correct?
2: The mean sallary of a federal employee on the general schedule is $59,593. The average sallary of 30 state employees who do similar work is 58,800 with a standard deviation of $1500. At the 0.01 level of significance, can it be cocnluded that state employees earn an average less than federal employees?
can someone please show me how these are done, step by step please