b. It has been reported that the average credit card debt for the newly employed is $3350. The hiring agency feels that their employees have a debt much less than this, so it conducts a study on 50...

Extracted text: b. It has been reported that the average credit card debt for the newly employed is $3350. The hiring agency feels that their employees have a debt much less than this, so it conducts a study on 50 randomly selected new employees and finds that the average debt is $3050. Given the population standard deviation is $1000. i. Set up the hypothesis test. At the 0.025 significance level is there enough evidence to suggest the average debt has changed? ii.