Question

Asked Nov 25, 2019

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The average credit card debt for a recent year was $9205. Five years earlier the average credit card debt was $6618. Assume sample sizes of 35 were used and the standard deviations of both samples were $1928. Is there enough evidence to believe that the average credit card debt has increased? Use alpha = 0.05 give a possible reason as why or why not the debut was increased.

Step 1

Given data

Step 2

**Formulation of Hypothesis**

Null Hypothesis:- There is no difference in the average credit card debt

i.e. H0: µ1= µ2

Alternative Hypothesis: - average credit ...

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