Problem 1: According to the website lendingtree.com, the average debt is $5700 per household in America. The mayor of a small town is wondering if the average debt for people in his town is lower than the national average. He surveyed an SRS of 28 households and found that the average debt is $5437 with a standard deviation of $2014. The data does not show any strong outliers or skewness. a) Do we have some evidence to suggest that the average debt for people in this town is lower than the national average? Explain. b) Perform a hypothesis test at a significance level, alpha = 0.10.

Problem 1: According to the website lendingtree.com, the average debt is $5700 per household in America. The mayor of a small town is wondering if the average debt for people in his town is lower than the national average. He surveyed an SRS of 28 households and found that the average debt is $5437 with a standard deviation of $2014. The data does not show any strong outliers or skewness. a) Do we have some evidence to suggest that the average debt for people in this town is lower than the national average? Explain. b) Perform a hypothesis test at a significance level, alpha = 0.10.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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