A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 31 cardholders has a mean credit card balance of $5,493 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 Which of the following correctly states Ho and Ha? OA. Ho: H>$5,300 Нa: μ≤$5,300 OD. Ho: H>$5,300 Нa: μ≤$5,300 B. Ho: μ≤$5,300 Нa: μ> $5,300 OC. Ho: μ=$5,300 Нa: μ>$5,300 OE. Ho: ≥$5,300 Ha: <$5,300 OF. Hoμ=$5,300 Нa: $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is (are) the critical value(s), to? to (Use a comma to separate answers as needed. Round to three decimal places as needed.)

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A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this
claim. You find that a random sample of 31 cardholders has a mean credit card balance of $5,493 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
Which of the following correctly states Ho and Ha?
OA. Ho: H>$5,300
Нa: μ≤$5,300
OD. Ho: H>$5,300
Нa: μ≤$5,300
B. Ho: μ≤$5,300
Нa: μ> $5,300
OC. Ho: μ=$5,300
Нa: μ>$5,300
OE. Ho: ≥$5,300
Ha: <$5,300
OF. Hoμ=$5,300
Нa: $5,300
(b) Find the critical value(s) and identify the rejection region(s).
What is (are) the critical value(s), to?
to
(Use a comma to separate answers as needed. Round to three decimal places as needed.)
Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $5,300. You want to test this claim. You find that a random sample of 31 cardholders has a mean credit card balance of $5,493 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 Which of the following correctly states Ho and Ha? OA. Ho: H>$5,300 Нa: μ≤$5,300 OD. Ho: H>$5,300 Нa: μ≤$5,300 B. Ho: μ≤$5,300 Нa: μ> $5,300 OC. Ho: μ=$5,300 Нa: μ>$5,300 OE. Ho: ≥$5,300 Ha: <$5,300 OF. Hoμ=$5,300 Нa: $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is (are) the critical value(s), to? to (Use a comma to separate answers as needed. Round to three decimal places as needed.)
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