A credit card company claims that the mean credit card debt for individuals is greater t $5,000. You want to test this claim. You find that a random sample of 26 cardholders h a mean credit card balance of $5,183 and a standard deviation of $600. At a=0.10, ca you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (c) Find the standardized test statistic t. t = 1.56 (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Reject Ho because the test statistic is in the rejection region. OB. Fail to reject Ho because the test statistic is not in the rejection region. OC. Fail to reject Ho because the test statistic is in the rejection region. OD. Reject Ho because the test statistic is not in the rejection region.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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 26 cardholders has
a mean credit card balance of $5,183 and a standard deviation of $600. At a=0.10, can
you support the claim? Complete parts (a) through (e) below. Assume the population is
normally distributed.
(c) Find the standardized test statistic t.
t= 1.56 (Round to two decimal places as needed.)
(d) Decide whether to reject or fail to reject the null hypothesis.
4
OA. Reject Ho because the test statistic is in the rejection region.
OB. Fail to reject Ho because the test statistic is not in the rejection region.
OC. Fail to reject Ho because the test statistic is in the rejection region.
OD. Reject Ho because the test statistic is not in the rejection region.
0
1
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 26 cardholders has a mean credit card balance of $5,183 and a standard deviation of $600. At a=0.10, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (c) Find the standardized test statistic t. t= 1.56 (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. 4 OA. Reject Ho because the test statistic is in the rejection region. OB. Fail to reject Ho because the test statistic is not in the rejection region. OC. Fail to reject Ho because the test statistic is in the rejection region. OD. Reject Ho because the test statistic is not in the rejection region. 0 1
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