According to the report by the government-lending institution, college students who have credit cards have an average credit card balance of $1,066. A random sample of 50 college students was selected, and their average credit card debt was found to be $1,442. Assume the standard deviation for student credit card debt is $276. Using a = 0.05, complete parts a and b below. a. Does this sample provide enough evidence to challenge the findings by the lending institution? Determine the null and alternative hypotheses. Họ: H The z-test statistic is (Round to two decimal places as needed.) The critical z-score(s) is(are). (Round two decimal places as needed. Use a comma to separate answers as needed.) Because the test statistic the null hypothesis. b. Determine the p-value for this test. The p-value is. (Round to three decimal places as needed.)

According to the report by the government-lending institution, college students who have credit cards have an average credit card balance of $1,066. A random sample of 50 college students was selected, and their average credit card debt was found to be $1,442. Assume the standard deviation for student credit card debt is $276. Using a = 0.05, complete parts a and b below. a. Does this sample provide enough evidence to challenge the findings by the lending institution? Determine the null and alternative hypotheses. Họ: H The z-test statistic is (Round to two decimal places as needed.) The critical z-score(s) is(are). (Round two decimal places as needed. Use a comma to separate answers as needed.) Because the test statistic the null hypothesis. b. Determine the p-value for this test. The p-value is. (Round to three decimal places as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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