This assignment is intended to test your knowledge of how to appropriately compare two means in...

This assignment is intended to test your knowledge of how to appropriately compare two means in Excel using the data file Student_Debt.xlsx. The data file has 50 randomly selected student debt amounts from 2011 and 50 randomly selected student debt amounts from 2007. You want to know whether the sample data provide enough evidence to believe there is a difference between the debt amounts in the two years. The null and alternative hypotheses are shown below.

Null Hypothesis: Mean Student Debt in 2011 is equal to Mean Student Debt in 2007

Alternative Hypothesis: Mean Student Debt in 2011 is not equal to Mean Student Debt in 2007

Run an F-test for two sample variances using an alpha level of 0.10 and answer the following questions
1. Which of the two years has the higher mean?

Provide your answer below:

Which of the two years has the higher variance?

Provide your answer below:

Based on the statistical output, would you conclude that variances are equal or not equal?

Provide your answer below:

Run an appropriate t-test (assuming either equal or unequal variances based on your conclusion in 1c above) using an alpha level of 0.05 and answer the following questions.
1. Is this a one-tailed or two-tailed test? Explain your answer.

Provide your answer below:

Based on the statistical output, would you conclude that means are equal or not equal?

In Provide your answer below:

everyday language that could be understood by parents and students, what does the analysis say about student debt in 2011 versus 2007.

Provide your answer below:

Debt in 2011	Debt in 2007
4422	2939
4266	2812
4184	3198
4718	3032
3443	3759
4373	2675
3751	3148
3319	2743
4451	3264
3675	3346
3335	3357
3949	3103
3611	2856
3929	2903
3994	3320
4881	3139
4404	2784
4542	3329
4353	2430
4574	2932
3529	2500
4141	2617
2852	3072
2985	2310
4440	2120
3464	2344
3264	2830
4835	1873
3992	2742
3651	2777
4103	2601
3583	2500
4308	2525
4070	2837
4133	3245
3424	2368
3820	3339
3845	3080
3791	2865
3812	2617
3722	3634
3099	2470
3421	2908
3886	2675
4439	2858
4136	2942
3865	3101
3991	3240
3795	2926
3718	2856

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