According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569 Aresearcher wants to find out if this number is lower now and collects data for a random sample of 40 college students Their average credit card debt was found to be $542 with a sample standard deviation of $67.23. Complete parts a through c a. Using 005, does this sample provide enough evidence to conclude that the average credit card balance of 18-to-20-year-old college students has decreased since 2016? Determine the null and altermative hypotheses Ho H H (Type integers or decimals Do not round Do not include the $ symbol in your answers) Determine the appropriate critical value Select the crrect choice below and fill in the answer box within your choice (Round to three decimal places as needed.) OA - OB. /2

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 22E
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15PCerardU
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The work
According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569 A researcher wants to find out if this number is lower now and collects data for a random
sample of 40 college students Their average credit card debt was found to be $542 with a sample standard deviation of $67.23. Complete parts a through c.
Calculate the appropriate test statIstic
(Round to two decimal places as needed)
State the conclusion
V Ho There
V sufficient evidence to conclude that the average credit card balance of 18-to-20-year old college students has
V since 2016.
b. Does changing the value of from 0.05 to 0.01 afect the conclusion? Why or why not?
The conclusion should
V because the test statistic is
(Round to three decimal places as needed)
c. Determine the precise p-value for this test using Excel
The p-value is
(Round to three decimal places as needed)
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Transcribed Image Text:NGot od af puhen mA anted nore 15PCerardU $4They don get a nd 3sdon't care Ceanen vel age nd Prelaary atnct Sover are eut of control TARack and fh the tt 5AN dra o cha wca deely foced olimtomate a Nething an h you 62A and nqer Silnd rothing l Wnow the 1 do they fee eset the dek a UThe are e er 67Youknow eri 54U cant comprert prereurive relary inct 7Ack and fch the tt LUYk hon and alyou pet of rig 1the and fo L L20 n th MM RE nt 9u how 3o0very ne conquest 102 Josn he heig 30e thve 104 No 105tmey deer on the anteler 24Craingao etmi LOacrce for w Lahathe arly as nd they ounow etl a herran the e what L24 thal w Sande ale pesule 100They saer fear en gr WLO wild on yo o cfmey tham 32the A1 ewrdfed e Cfento prese 1he w ro for cover Cebe Ut A Pedor 10 an thatd oinan TINgt the dere 1 inge ho y ngd to ay W e of pe conguer he crve aionfm Not N conr he c Satinct ot pua T yBdCaner nd T t sho pth et ens he end M WMeal bond int ot mpu penao tive ngat on Want out of cg ay Bd Oarer nd elidet tntd TH de s t LIT dor et y t houts dontmi don't eed The work According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569 A researcher wants to find out if this number is lower now and collects data for a random sample of 40 college students Their average credit card debt was found to be $542 with a sample standard deviation of $67.23. Complete parts a through c. Calculate the appropriate test statIstic (Round to two decimal places as needed) State the conclusion V Ho There V sufficient evidence to conclude that the average credit card balance of 18-to-20-year old college students has V since 2016. b. Does changing the value of from 0.05 to 0.01 afect the conclusion? Why or why not? The conclusion should V because the test statistic is (Round to three decimal places as needed) c. Determine the precise p-value for this test using Excel The p-value is (Round to three decimal places as needed) Click to select your answer(s) Save for Later P Type here to search 535 PM S/10/2021 acer K120 Pri Serol Logitedh Break F11 F12 F10 Num Page Up Insert Home Backspace Page Down Delete End E Enter K F Shift N M Ctrl Alt
sample of 40 college port by a government institution, 18-to-20-year-old college students have an average credit card balance of $569. A researcher wants to find out if this number is lower now and collects data for a random
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According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569 A researcher wants to find out if this number is lower now and collects data for a random
sample of 40 college students Their average credit card debt was found to be $542 with a sample standard deviation of $67.23. Complete parts a through c.
a. Using 005, does this sample provide enough evidence to conclude that the average credit card balance of 18-to-20-year-old college students has decreased since 2016?
Determine the null and alternative hypotheses
Ho H
H
(Type integers or decimals. Do not round Do not include the $ symbol in your answers)
Determine the appropriate critical value. Select the carrect choice below and fill in the answer box within your choice
(Round to three decimal places as needed.)
OA la
O B. ta/2
OC - ta
...
Click to select your answer(s)
Save for Later
$32 PM
P Type here to search
S/10/2021
acer
K120
Pri
Sereen
Scrol
Lock
Logitech
F12
F11
F10
FO
FO
FO
Num
Lock
F4
Page
Up
Home
Insert
Backspace
Page
Down
End
8.
9.
Delete
R
Enter
K L
G H
Shift
M
Transcribed Image Text:sample of 40 college port by a government institution, 18-to-20-year-old college students have an average credit card balance of $569. A researcher wants to find out if this number is lower now and collects data for a random they Cner ur d Uget 5sdnt care Urive 5Ceanen ever rage and of contral drama o chao ca deeply foced Emotions make uwek 6Nething can touch you Aac and oner ndothingebe Cavingisine w the I do they feel slet to the dark side Thoe are your 67 know e w tp-be the cer pt m of rage The stnd for K int own this bu o fg and Stkg net conqet tone a can't entet 9Predatory tinct Attack and fh the ht selcreate sts lack up pre 95u show 100tverythingU del 101Cners e t ey mt 10ju e the hght ethealves to de 104 N Sacnfice for what the mot 10 They deliver n their 100prome tok them p 10hey rave the pressure 1They her fe pr 0 c mergency nto reure 111 the wk on for cover 11 tertn that 1 bing and they t that way andie /o hungry in an te Wuoml wild on you imgle p 71 kock fiout Hucky for then 3alThe D Ceward so aing othing bu the dere ebing me it 34ligest le of intty SMental Dominance be U A Predanor 100 certn that deire 4 congerte am 11utionfmgng ho 7 impule Mitmda According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569 A researcher wants to find out if this number is lower now and collects data for a random sample of 40 college students Their average credit card debt was found to be $542 with a sample standard deviation of $67.23. Complete parts a through c. a. Using 005, does this sample provide enough evidence to conclude that the average credit card balance of 18-to-20-year-old college students has decreased since 2016? Determine the null and alternative hypotheses Ho H H (Type integers or decimals. Do not round Do not include the $ symbol in your answers) Determine the appropriate critical value. Select the carrect choice below and fill in the answer box within your choice (Round to three decimal places as needed.) OA la O B. ta/2 OC - ta ... Click to select your answer(s) Save for Later $32 PM P Type here to search S/10/2021 acer K120 Pri Sereen Scrol Lock Logitech F12 F11 F10 FO FO FO Num Lock F4 Page Up Home Insert Backspace Page Down End 8. 9. Delete R Enter K L G H Shift M
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