
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
The first two select your answers have the following options:
greater than
less than
less than or equal to
greater than or equal to
equal to
not equal to

Transcribed Image Text:In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a
mean credit card balance of $3212. This figure was an all-time high and had increased 40% 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 = $1300.
a. State the null and alternative hypotheses.
Ho: μ
Select your answer
H₂: -Select your answer -
3212
b. What is the p-value for a sample of 180 undergraduate students with a sample mean credit card balance of $3367? If your
answer is zero enter "0".
3212
(to 2 decimals)
(to 4 decimals)
z value
p-value
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 -
than $3212.
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