3a) A group of statistics students gathered data about a sample of 31 MSU students. The group wanted to determine the average debt of all MSU...

3a) A group of statistics students gathered data about a sample of 31 MSU students. The group wanted to determine the average debt of all MSU students. Create a 95% confidence interval to estimate the average debt of all MSU students. Statistics from the sample are vien below.StDev1379.941Set up the formula with the numbers in it, but you may use the calculator to finish it.Confidence interval setup:____________________________Confidence interval:_________________________________Any calculator commands used:_________________________3b) Interpret your confidence interval from 3a). What does it mean or tell you. You are 95% confident that...3c) The group decides to run a hypothesis test to determine if there is sufficient evidence to suggest that the debt of MSU students is greater than $500. Statistics from the sample are below.StDev1379.941Use these statistics to perform a hypothesis test with a=0.05. H(sub 1):________Step 2: a=_______________Step 3: Calculated test statistic:Step 4a: Critical value(s) and region(s):_____________Step 4b: p-value:_____________________Step 5: Compare the critical value with the test statistic and state the decision rule.Step 6: Conclusion regarding H(sub 0):________________Step 7: Conclusion in words:_______________________Work or calculator keys used:___________________________