Example 137.5 Student loan debt is a concern for many college bound high school seniors. In Miami, the two top research schools are Florida International University and the University of Miami. A sample of 29 recent graduates from FIU who borrowed money for school had an average debt load of $16,026 and a standard deviation of $10,738. A sample of 29 recent graduates from UM who borrowed money for school had an average debt load of $26,438 and a standard deviation of $16,203. Use the data from the two randomly selected groups of college graduates to construct a 99% confidence interval estimate of the true difference between the average amount of student loan debt carried by FIU graduates and UM graduates.

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Example 137.5

Sample Exams