The average credit card debt carried by college students was compared at public

Question

The average credit card debt carried by college students was compared at public versus private universities. It was reported that a statistically significant difference existed between the two typos of institutions and that students at private universities earned higher credit card debt. Complete pans a through c below a) Explain what "statistically significant" means in this context. Choose the correct answer below. A. The differences that were observed between the group of students at public institutions and those at private institutions and those at private institutions were too great to be attributed to natural sampling variation B. We expect with 95% confidence that the average credit card debt carried by students at private institutions is higher than debt carried by students at public institutions C. The probability of observing these differences assuming that there were no differences was greater than 5% D. The differences that were observed between the group of students at public institutions and those at private institutions were great enough to be important to researchers. b) If their conclusion is incorrect, what type of error did the researchers commit? The researchers committed a c) Does this prove that students who choose to attend public institutions will carry lower credit card debt? Choose the correct answer below A. Yes B. No because the results are "statistically significant" but might not have practical significant C. No, because there could be many other factors that are affecting the credit card debt earned by students A causal relationship cannot be inferred D. No because the results could be in error

Explanation / Answer

a) Option A is correct.

b) The researchers committed a Type I error.

c) Option C is correct.

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