MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
A credit card company claims that the mean credit card debt for individuals is greater than $5,000. You want to test this claim. You find that a random sample of 37 cardholders has a mean credit card balance of $5,100 and a standard deviation of $675. At a = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed.
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Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,000. You want to test this claim. You find that a random sample of 37 cardholders has a mean credit card balance of $5,100 and a standard deviation of $675. At a = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed.
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Step 3: Obtain p value and make decision
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