A study of 25 graduates of four-year colleges by the American Bankers Association

Chapter 0, Problem 41

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A study of 25 graduates of four-year colleges by the American Bankers Association revealed the mean amount owed by a student in student loans was $14,381. The standard deviation of the sample was $1,892. Construct a 90 percent confidence interval for the population mean. Is it reasonable to conclude that the mean of the population is actually $15,000? Tell why or why not.

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