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 32 cardholders has a mean credit card balance of $5,402 and a standard deviation of $675. At α=0.01​, can you support the​ claim? Complete parts​ (a) through​ (e) below. Assume the population is normally distributed.   solve for p value, rejected areas,

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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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
32
cardholders has a mean credit card balance of
$5,402
and a standard deviation of
$675.
At
α=0.01​,
can you support the​ claim? Complete parts​ (a) through​ (e) below. Assume the population is normally distributed.
 
solve for p value, rejected areas,
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