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A certain consumer research firm analyzed the 8% of adults from a particular region that are either "Superbanked" or "Unbanked." Superbanked consumers are defined as adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments; Unbanked consumers are adults who live in a household that does not use a bank or credit union. By finding the 4% of adults that are Superbanked, the firm identifies financially savvy consumers who might be open to diversifying their financial portfolios; by identifying the Unbanked, the firm provides insight into the ultimate prospective client for banks and financial institutions. As part of its analysis, the firm reported that 89% of Superbanked consumers from the region use credit cards in the past three months as compared to 37% of Unbanked consumers. Suppose that these results were based on 800 Superbanked consumers and 1,000 Unbanked consumers. Complete parts (a) through (c) below. a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards? State the null and alternative hypotheses, where is the population proportion of Superbanked consumers that use credit cards and is the population proportion of Unbanked consumers that use credit cards. OA. Ho: ₁ = ₂ H₁: Jy > ₂ Determine the value of the test statistic. ZSTAT= OB. Ho: ₁₂ Н1: 11 < П2 C (Round to four decimal places as needed.) OC. Ho: ₁ #1₂ H₁:₁ = 1₂ D. Ho: ₁ = ₂ H₁: #₁ #₂

A certain consumer research firm analyzed the 8% of adults from a particular region that are either "Superbanked" or "Unbanked." Superbanked consumers are defined as adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments; Unbanked consumers are adults who live in a household that does not use a bank or credit union. By finding the 4% of adults that are Superbanked, the firm identifies financially savvy consumers who might be open to diversifying their financial portfolios; by identifying the Unbanked, the firm provides insight into the ultimate prospective client for banks and financial institutions. As part of its analysis, the firm reported that 89% of Superbanked consumers from the region use credit cards in the past three months as compared to 37% of Unbanked consumers. Suppose that these results were based on 800 Superbanked consumers and 1,000 Unbanked consumers. Complete parts (a) through (c) below. a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards? State the null and alternative hypotheses, where is the population proportion of Superbanked consumers that use credit cards and is the population proportion of Unbanked consumers that use credit cards. OA. Ho: ₁ = ₂ H₁: Jy > ₂ Determine the value of the test statistic. ZSTAT= OB. Ho: ₁₂ Н1: 11 < П2 C (Round to four decimal places as needed.) OC. Ho: ₁ #1₂ H₁:₁ = 1₂ D. Ho: ₁ = ₂ H₁: #₁ #₂

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 27PPS
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A certain consumer research firm analyzed the 8% of adults from a particular region that are either "Superbanked" or "Unbanked." Superbanked consumers are defined as adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments; Unbanked consumers are adults who live in a household that does not use a bank or credit union. By finding the 4% of adults that are Superbanked, the firm identifies financially savvy consumers who might be open to diversifying their financial portfolios; by identifying the Unbanked, the firm provides insight into the ultimate prospective client for banks and financial institutions. As part of its analysis, the firm reported that 89% of Superbanked consumers from the region use credit cards in the past three months as compared to 37% of Unbanked consumers. Suppose that these results were based on 800 Superbanked consumers and 1,000 Unbanked consumers. Complete parts (a) through (c) below. a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards? State the null and alternative hypotheses, where is the population proportion of Superbanked consumers that use credit cards and is the population proportion of Unbanked consumers that use credit cards. OA. Ho: ₁ = π₂ H1: П1 > П2 B. Ho: ₁ = ¹₂ Н1: П1<П2 Determine the value of the test statistic. ZSTAT = (Round to four decimal places as needed.) OC. Ho: ₁ π₂ H1: П1 =П2 D. Ho: π₁ = 1₂ H₁: π₁ #π₂
Transcribed Image Text:A certain consumer research firm analyzed the 8% of adults from a particular region that are either "Superbanked" or "Unbanked." Superbanked consumers are defined as adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments; Unbanked consumers are adults who live in a household that does not use a bank or credit union. By finding the 4% of adults that are Superbanked, the firm identifies financially savvy consumers who might be open to diversifying their financial portfolios; by identifying the Unbanked, the firm provides insight into the ultimate prospective client for banks and financial institutions. As part of its analysis, the firm reported that 89% of Superbanked consumers from the region use credit cards in the past three months as compared to 37% of Unbanked consumers. Suppose that these results were based on 800 Superbanked consumers and 1,000 Unbanked consumers. Complete parts (a) through (c) below. a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards? State the null and alternative hypotheses, where is the population proportion of Superbanked consumers that use credit cards and is the population proportion of Unbanked consumers that use credit cards. OA. Ho: ₁ = π₂ H1: П1 > П2 B. Ho: ₁ = ¹₂ Н1: П1<П2 Determine the value of the test statistic. ZSTAT = (Round to four decimal places as needed.) OC. Ho: ₁ π₂ H1: П1 =П2 D. Ho: π₁ = 1₂ H₁: π₁ #π₂
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