Mathematics, 28.12.2019 07:31 NatsuDDW
Acredit card company claims that the mean credit card debt for individuals is greater than $5,100.
you want to test this claim. you find that a random sample of 27 cardholders has a mean credit card balance of $ 5,270 and a standard deviation of $550.
at α=0.10, can you support the claim? complete parts (a) through (e) below. assume the population is normally distributed.
(a) write the claim mathematically and identify h0 and ha.
(b) find the critical value(s) and identify the rejection region(s).
what is(are) the critical value(s), t0?
(c) find the standardized test statistic t.
(d) decide whether to reject or fail to reject the null hypothesis.
(e) interpret the decision in the context of the original claim.
Answers: 1
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Acredit card company claims that the mean credit card debt for individuals is greater than $5,100.
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