A credit card company claims that the mean credit card debt for individuals is greater than $5,000. You want to test thisclaim. You find that a random sample of 28 cardholders has a mean credit card balance of $5,142 and a standarddeviation of $675. At a = 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the populationis normally distributed.

Sample size(n)=28 sample mean(x¯)=$5,142 Sample standard deviation(s)=$675 α=0.01 degrees of…

Answered: A credit card company claims that the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Assume the samples are random and independent, the populations are nomally distributed, and the population variances are equal. The table available below shows the prices (in dollars) for a sample of automobile batteries. The prices are classified according to battery type. At a = 0.10, is there enough evidence conclude that at least one mean battery price is different from the others? Complete parts (a) through (e) below. E Click the icon to view the battery cost data. (a) Let u1. P2. H3 represent the mean prices for the group size 35, 65, and 24/24F respectively. Identify the claim and state Ho and H. H Cost of batteries by type The claim is the V hypothesis. Group size 35 Group size 65 Group size 24/24F 101 111 121 124 D 146 173 182 278 124 140 141 89 (b) Find the critical value, Fo, and identify the rejection region. 90 79 84 The rejection region is F Fo, where Fo = (Round to two decimal places as needed.) (c) Find the test statistic F. Print Done F= (Round to two decimal places as…
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