The average credit card debt for a recent year was $8,776. Five years earlier the average credit card debt was $8,189. Assume sample sizes of 32 were used and the population standard deviations of both samples were $690. Is there evidence to conclude that the average credit card debt has increased? Use a = 0.05.

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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The average credit card debt for a recent year was $8,776. Five years earlier the
average credit card debt was $8,189. Assume sample sizes of 32 were used and
the population standard deviations of both samples were $690. Is there
evidence to conclude that the average credit card debt has increased? Use
a = 0.05.
Transcribed Image Text:The average credit card debt for a recent year was $8,776. Five years earlier the average credit card debt was $8,189. Assume sample sizes of 32 were used and the population standard deviations of both samples were $690. Is there evidence to conclude that the average credit card debt has increased? Use a = 0.05.
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