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StatisticsQ&A LibraryThe 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.Start your trial now! First week only $4.99!*arrow_forward*

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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.

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