The National Student Loan Survey asked the student loan borrowers in their sampl
ID: 2935274 • Letter: T
Question
The National Student Loan Survey asked the student loan borrowers in their sample about attitudes toward debt. Below are some of the questions they asked, with the percent who responded in a particular way. Assume that the sample size is 1266 for all these questions. Compute a 95% confidence interval for each of the questions, and write a short report about what student loan borrowers think about their debt. (Round your answers to three decimal places.)
(a) "To what extent do you feel burdened by your student loan payments?" 56.3% said they felt burdened.
(d) "Making loan payments is unpleasant but I know that the benefits of education loans are worth it." 58.6% agreed.
(e) "I am satisfied that the education I invested in with my student loan(s) was worth the investment for career opportunities." 58.7% agreed.
(f) "I am satisfied that the education I invested in with my student loan(s) was worth the investment for personal growth." 69.3% agreed.
Explanation / Answer
a.
given that,
sample size(n)=1266
success rate ( p )= x/n = 0.563
CI = confidence interval
confidence interval = [ 0.563 ± 1.96 * Sqrt ( (0.563*0.437) /1266) ) ]
= [0.563 - 1.96 * Sqrt ( (0.563*0.437) /1266) , 0.563 + 1.96 * Sqrt ( (0.563*0.437) /1266) ]
= [0.5357 , 0.5903]
to [0.5357 , 0.5903] extent student feel by burdened loan payments
b.
given that,
sample size(n)=1266
success rate ( p )= x/n = 0.586
CI = confidence interval
confidence interval = [ 0.586 ± 1.96 * Sqrt ( (0.586*0.414) /1266) ) ]
= [0.586 - 1.96 * Sqrt ( (0.586*0.414) /1266) , 0.586 + 1.96 * Sqrt ( (0.586*0.414) /1266) ]
= [0.5589 , 0.6131]
loan payments is unpleasant but I know that the benefits of education loans are worth is
[0.5589 , 0.6131]
c.
given that,
sample size(n)=1266
success rate ( p )= x/n = 0.587
CI = confidence interval
confidence interval = [ 0.587 ± 1.96 * Sqrt ( (0.587*0.413) /1266) ) ]
= [0.587 - 1.96 * Sqrt ( (0.587*0.413) /1266) , 0.587 + 1.96 * Sqrt ( (0.587*0.413) /1266) ]
= [0.5599 , 0.6141]
invested in with my student loan(s) was worth the investment for career opportunities. is
in a range to [0.5599 , 0.6141]
d.
given that,
sample size(n)=1266
success rate ( p )= x/n = 0.693
CI = confidence interval
confidence interval = [ 0.693 ± 1.96 * Sqrt ( (0.693*0.307) /1266) ) ]
= [0.693 - 1.96 * Sqrt ( (0.693*0.307) /1266) , 0.693 + 1.96 * Sqrt ( (0.693*0.307) /1266) ]
= [0.6676 , 0.7184]
satisfied that the education student invested in with my student loan(s) was worth the investment for personal growth
is in range to [0.6676 , 0.7184]
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.