A credit card company claims that the mean credit card debt for individuals is greater than $5,100. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,346 and a standard deviation of $650. At a=0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. A. Write the claim mathematically and identify Ho and Ha. B. Find the critical values and rejection area c. find standardized test statistic d. decide to reject or fail I e. interpret in the context

A credit card company claims that the mean credit card debt for individuals is greater than $5,100. You want to test this claim. You find that a random sample of 26 cardholders has a mean credit card balance of $5,346 and a standard deviation of $650. At a=0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. A. Write the claim mathematically and identify Ho and Ha. B. Find the critical values and rejection area c. find standardized test statistic d. decide to reject or fail I e. interpret in the context

Name: A credit card company claims that the mean credit card debt for indiv
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: A credit card company claims that the mean credit card debt for individuals is greater than$5,100.You want to test this claim. You find that a random sample of26cardholders has a mean credit card balance of$5,346and a standard deviation of$650.Ata=0

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Consider an investment whose return is normally distributed with mean of 8% and a standard deviation of 5%. A. Determine the probability of losing money. B.Find the probability of losing money when the standard deviation is equal to 10%.
SAT exam math scores are normally distributed with mean 523 and standard deviation 89. We take a random sample of 25 test-takers and find their mean SAT math score. How likely is this mean to be larger than 600? a. essentially 100% of samples will have this characteristic b. .8065 c. .1935 d. .000008
Provide an appropriate response. Use the Standard Normal Table to find the probability. IQ test scores are normally distributed with a mean of 100 and a standard deviation of 15. An individual's IQ score is found to be 90. Find the z-score corresponding to this value. OA. -1.33 OB. 1.33 OC. 0.67 O D. -0.67 C
Suppose that the value of a stock varies each day from $11.82 to $21.17 with a uniform distribution. Find the third quartile, i.e., 75% of all days the stock is below what value? Round your answer to the nearest cent.$__________
In the 1992 presidential election, Alaska's 40 election districts averaged 1993 votes per district for President Clinton. The standard deviation was 584. (There are only 40 election districts in Alaska.) The distribution of the votes per district for President Clinton was bell-shaped. Let X = number of votes for President Clinton for an election district. (Source: The World Almanac and Book of Facts) Round all answers except part e. to 4 decimal places. a. What is the distribution of X? X ~ N( b. Is 1993 a population mean or a sample mean? Select an answer v C. Find the probability that a randomly selected district had fewer than 2053 votes for President Clinton. d. Find the probability that a randomly selected district had between 2074 and 2208 votes for President Clinton. e. Find the 95th percentile for votes for President Clinton. Round your answer to the nearest whole number.
Use the magnitudes (Richter scale) of the 120 earthquakes listed in the accompanying data table. Use technology to find the range, variance, and standard deviation. If another value, 8.00, is added to those listed in the data set, do the measures of variation change much? 3.272.452.542.432.752.372.192.421.911.432.851.731.992.322.332.704.742.873.382.722.833.423.952.993.873.473.082.942.703.602.842.373.033.232.593.643.242.662.352.432.813.952.522.922.983.412.272.562.933.162.201.151.934.002.542.832.352.311.522.801.951.602.452.332.081.553.201.491.812.551.662.352.452.082.192.752.002.792.392.671.692.881.841.991.862.561.972.183.671.553.162.461.881.502.793.283.822.752.452.712.541.642.183.032.361.481.922.322.651.411.391.802.242.302.481.732.402.442.482.44
Scores on an aptitude test are normally distributed with a mean of 960 and standard deviation of 120. Use the Cumulative Z-Score Table to answer the following questions. Write your answer rounded to the nearest whole number. If 1,570,000 students take the test.. how many would you expect to score above 1224? students ...how many would you expect to score above 972? students ...how many would you expect to score between 972 and 1224? students
You take a random sample of n = 900 observations from a population with a mean of 100 and a standard deviation of 10. What's the largest value of x you would expect to find? A. 108 B. 101 C. 100 D. 110
Use the Empirical Rule. The mean speed of a sample of vehicles along a stretch of highway is 71 miles per hour, with a standard deviation of 5 miles per hour. Estimate the percent of vehicles whose speeds are between 61 miles per hour and 81 miles per hour. (Assume the data set has a bell-shaped distribution.) Approximately ________ % of vehicles travel between 61 miles per hour and 81 miles per hour.
A report announced that the median sales price of new houses sold one year was $231,000, and the mean sales price was $271,000. Assume that the standard deviation of the prices is $100,000. Complete parts (a) through (d) below. (a) If you select samples of n=2, describe the shape of the sampling distribution of X. Choose the correct answer below. A. The sampling distribution will be approximately normal. B. The sampling distribution will depend on the specific sample and will not have a constant shape. C. The sampling distribution is skewed to the right, but less skewed to the right than the population. D. The sampling distribution will be approximately uniform. (b) If you select samples of n=100, describe the shape of the sampling distribution of X. Choose the correct answer below. A. The sampling distribution will depend on the specific sample and will not have a constant shape. B. The sampling…
please answer within 30 minutes.
Renee scores an average of 198 points in a game of bowling, and the points are normally distributed. Suppose Renee scores 224 points in a game and this value has a z-score of 2. What is the standard deviation? Provide your answer below: points