What is the p-value for a sample of  100 undergraduate students with a sample mean credit card balance of $3,467?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
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b. What is the p-value for a sample of  100 undergraduate students with a sample mean credit card balance of $3,467? 

Check My Work (2 remaining)
In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean
Office
credit card balance of $3194. This figure was an all-time high and had increased 49% 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
o = $1200.
a. State the null and alternative hypotheses.
Ho: H
Select your answer -
3194
Ha: H
- Select your answer - V
3194
b. What is the p-value for a sample of 100 undergraduate students with a sample mean credit card balance of $3467? If your answer
A-Z
is zero enter "0".
z value
(to 2 decimals)
p-value
(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 - v than $3194.
Check My Work (2 remaining)
0= Icon Key
O N
Transcribed Image Text:Check My Work (2 remaining) In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean Office credit card balance of $3194. This figure was an all-time high and had increased 49% 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 o = $1200. a. State the null and alternative hypotheses. Ho: H Select your answer - 3194 Ha: H - Select your answer - V 3194 b. What is the p-value for a sample of 100 undergraduate students with a sample mean credit card balance of $3467? If your answer A-Z is zero enter "0". z value (to 2 decimals) p-value (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 - v than $3194. Check My Work (2 remaining) 0= Icon Key O N
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