In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean credit card balance of $3151. This figure was an all- time high and had increased 45% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previous studies, use a population standard deviation σ $900. a. State the null and alternative hypotheses. = Ho: μ - Select your answer - 3151 Ha: μ - Select your answer - 3151 b. What is the p-value for a sample of 130 undergraduate students with a sample mean credit card balance of $3418? If your answer is zero enter "0". Z value p-value (to 2 decimals) (to 4 decimals) c. Using a 0.01 level of significance, what is your conclusion? - Select your answer - Conclude that student mean credit card debt is - Select your answer than $3151.

In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean credit card balance of $3151. This figure was an all- time high and had increased 45% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previous studies, use a population standard deviation σ $900. a. State the null and alternative hypotheses. = Ho: μ - Select your answer - 3151 Ha: μ - Select your answer - 3151 b. What is the p-value for a sample of 130 undergraduate students with a sample mean credit card balance of $3418? If your answer is zero enter "0". Z value p-value (to 2 decimals) (to 4 decimals) c. Using a 0.01 level of significance, what is your conclusion? - Select your answer - Conclude that student mean credit card debt is - Select your answer than $3151.

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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