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A credit card company claims that the mean credit card debt for individuals greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At a = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and Ha Which of the following correctly states Ho and Ha? O A. Ho: H=$5,200 Ha:μ> $5,200 OD. Ho: H>$5,200 Ha: μ≤ $5,200 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? OB. Ho: H=$5,200 Ha: μ#$5,200 to = (Use a comma to separate answers as needed. Round to three decimal places as needed.) O C. C OB. t< OD. t< and t> OC. Ho: μ> $5,200 H₂:μ≤ $5,200 OF. Ho: us$5,200 H₂:μ>$5,200

A credit card company claims that the mean credit card debt for individuals greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At a = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and Ha Which of the following correctly states Ho and Ha? O A. Ho: H=$5,200 Ha:μ> $5,200 OD. Ho: H>$5,200 Ha: μ≤ $5,200 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? OB. Ho: H=$5,200 Ha: μ#$5,200 to = (Use a comma to separate answers as needed. Round to three decimal places as needed.) O C. C OB. t< OD. t< and t> OC. Ho: μ> $5,200 H₂:μ≤ $5,200 OF. Ho: us$5,200 H₂:μ>$5,200

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 22SGR
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A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At x = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and Ha Which of the following correctly states Ho and Ha? O A. Ho: μ = $5,200 Ha:μ>$5,200 O D. Ho: μ> $5,200 Ha:μ≤ $5,200 (b) Find the critical value(s) and identify the rejection region(s). What is (are) the critical value(s), to? = to (Use a comma to separate answers as needed. Round to three decimal places as needed.) t = Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. t> C. <t< (c) Find the standardized test statistic t. O B. Ho: μ = $5,200 Ha: μ#$5,200 O E. Ho: μ ≥ $5,200 Ha: μ< $5,200 (Round to two decimal places as needed.) O B. t< O D. t< and t> OC. Ho: μ> $5,200 Ha:μ≤ $5,200 OF. Ho: μ≤ $5,200 Ha:μ>$5,200
Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At x = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and Ha Which of the following correctly states Ho and Ha? O A. Ho: μ = $5,200 Ha:μ>$5,200 O D. Ho: μ> $5,200 Ha:μ≤ $5,200 (b) Find the critical value(s) and identify the rejection region(s). What is (are) the critical value(s), to? = to (Use a comma to separate answers as needed. Round to three decimal places as needed.) t = Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. t> C. <t< (c) Find the standardized test statistic t. O B. Ho: μ = $5,200 Ha: μ#$5,200 O E. Ho: μ ≥ $5,200 Ha: μ< $5,200 (Round to two decimal places as needed.) O B. t< O D. t< and t> OC. Ho: μ> $5,200 Ha:μ≤ $5,200 OF. Ho: μ≤ $5,200 Ha:μ>$5,200
A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At x = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (Round to three decimal places as needed.) A. t> <t< (c) Find the standardized test statistic t. t= (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. A. Fail to reject Ho because the test statistic is not in the rejection region. B. Reject Ho because the test statistic is not in the rejection region. C. Fail to reject Ho because the test statistic is in the rejection region. D. Reject Ho because the test statistic is in the rejection region. (e) Interpret the decision in the context of the original claim. O B. t< D. t< and t> O A. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $5,200. B. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $5,200. C. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $5,200. D. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $5,200.
Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,398 and a standard deviation of $650. At x = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (Round to three decimal places as needed.) A. t> <t< (c) Find the standardized test statistic t. t= (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. A. Fail to reject Ho because the test statistic is not in the rejection region. B. Reject Ho because the test statistic is not in the rejection region. C. Fail to reject Ho because the test statistic is in the rejection region. D. Reject Ho because the test statistic is in the rejection region. (e) Interpret the decision in the context of the original claim. O B. t< D. t< and t> O A. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $5,200. B. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $5,200. C. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $5,200. D. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $5,200.
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