A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $5,477 and a standard deviation of $600. At a= 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify H, and H Which of the following correctly states H, and H,? OC. Ho: u2 S5,300 Hau< $5,300 О в. Но и» $5,300 ΟΑ. Hρ μ S5,300 Ha u> $5,300 Ha us $5,300 O E. Ho: u> $5,300 H us $5,300 OF. Ho: us $5,300 Hp> $5,300 OD. Ho: u= $5,300 H u# $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? 6 =0 (Use a comma to separate answers as needed. Round three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. t< O B. t< and t> Oc.
A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $5,477 and a standard deviation of $600. At a= 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify H, and H Which of the following correctly states H, and H,? OC. Ho: u2 S5,300 Hau< $5,300 О в. Но и» $5,300 ΟΑ. Hρ μ S5,300 Ha u> $5,300 Ha us $5,300 O E. Ho: u> $5,300 H us $5,300 OF. Ho: us $5,300 Hp> $5,300 OD. Ho: u= $5,300 H u# $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? 6 =0 (Use a comma to separate answers as needed. Round three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. t< O B. t< and t> Oc.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $5,477 and a standard deviation of $600. At
a = 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed.
(a) Write the claim mathematically and identify H, and Ha
Which of the following correctly states H, and H?
OC. Ho: H2 $5,300
О А. Но: и3 $5,300
Ha: u > $5,300
О В. Но: и» $5,300
Ha: us $5,300
Ha: µ< $5,300
O F H0: με $5,300
O D. Ho: µ= S5,300
Ha: u# $5,300
O E. Ho: H > $5,300
Ha: us $5,300
Ha: u> $5,300
(b) Find the critical value(s) and identify the rejection region(s).
What is(are) the critical value(s), to?
to
(Use a comma to separate answers as needed. Round to three decimal places as needed.)
Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice.
(Round to three decimal places as needed.)
O A. t<
and t>
В. t<
Oc.
<t<
O D. t>
Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $5,477 and a standard deviation of $600. At
a = 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed.
O A. t<
and t>
O B. t<
Oc.
<t<
O D. t>
(c) Find the standardized test statistic t.
t=
(Round to two decimal places as needed.)
(d) Decide whether to reject or fail to reject the null hypothesis.
O A. Fail to reject H, because the test statistic is in the rejection region.
B. Reject H, because the test statistic is not in the rejection region.
O C. Reject H, because the test statistic is in the rejection region.
O D. Fail to reject Ho because the test statistic is not in the rejection region.
(e) Interpret the decision in the context of the original claim.
O A. At the 1% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $5,300.
O B. At the 1% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $5,300.
O C. At the 1% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $5,300.
O D. At the 1% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $5,300.
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