1 answer

Homework: Section 7.3 Homework Score: 0.17 of 1 pt 509 (com HW Score: 43 92% 395...

Question:

Homework: Section 7.3 Homework Score: 0.17 of 1 pt 509 (com HW Score: 43 92% 395 of 9 pls 7.3.21-T Question Help Acredit card
Homework: Section 7.3 Homework Score: 0.17 of 1 pt 509 (com HW Score: 43 92% 395 of 9 pls 7.3.21-T Question Help Acredit card company is that the mean credit card debt for individualister than standard deviation of $600 0.10 can you support the dam? Complete parts t (a) W e the aim mathematically and dry and h 00. You want to test this dam Yound that a random sample of 26 canders as a mean credit card bance of 5578 anda e below. Assume the population is no t ed Which of the following correctly Ho and H,? AHO $5,300 55,00 DC530 5300 O H -5300 HO Ho255,300 H, R 55.300 $5,300 $300 (h) Find the critical values and Identity the rejection regions) What are the critical values ? (Use a corto separate s as needed Hound three decimal places Enter your answer in the answer box and then check Answer Check O lyne here to search nom n20 mum Pound

Answers

a)To test,

H_{0}: \mu \leq $5,300

H_{a}: \mu > $5,300

b) Given,

  \bar{x}=5,575

n = 25, s = 600

The test statistics is,

t = \frac{\bar{x}-\mu}{s/\sqrt{n}}

   t = \frac{5575-5300}{600/\sqrt{25}}

= 2.292

degrees of freedom = 25-1 = 24

level of significance, \alpha = 0.10

The critical value is

t_{0.10,24} = 1.318

We reject null hypothesis if,

\text{observed t } >t_{0.10,24} = 1.318

The null hypothesis is rejected.

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