Gallup surveyed adult Americans about their consumer debt. They Reported that 47% of millennials and 61% of Gen Xers did not pay off their credit cards each month and therefore carried a balance from month to month. Suppose that these percentages were based on representative samples of 450 millennial and 300 Gen Xers. Is there convincing evidence that the proportion of Gen Xers who do not pay off their credit cards each month is greater than this proportion for Millennials? Test the appropriate hypotheses using a significance level of 0.05.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 3E
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Gallup surveyed adult Americans about their consumer debt. They Reported that 47% of
millennials and 61% of Gen Xers did not pay off their credit cards each month and therefore
carried a balance from month to month. Suppose that these percentages were based on
representative samples of 450 millennial and 300 Gen Xers. Is there convincing evidence that
the proportion of Gen Xers who do not pay off their credit cards each month is greater than this
proportion for Millennials? Test the appropriate hypotheses using a significance level of 0.05.

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