Are Americans more deeply in debt this year compared to last year? To help answer this question, a statistics practitioner randomly sampled Americans this year and last year. The sampling was conducted so that the samples were matched by the age of the head of the household. For each, the ratio of debt payments to household income was recorded. Can we infer that the ratios are higher this year than last? Use 5% significance level.
Also, please show steps using excel or by hand on how to find if this is a right tailed T-test, how to find the hypothesized mean difference, t stat, and p-vale.