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 30 cardholders has a mean credit card balance of $5,400 and a standard deviation of $625. At a = 0.05, 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 H Which of the following correctly states Ho and H,? OB. Ho: > 5,300 Hus $5,300 OE. Ho: -$5,300 H $5.300 O A. Ho: 2 $5,300 Hpe$5,300 OC. Ho: $5,300 H p> $5.300 OD. Ho: > $5,300 Hus$5,300 OF. Ho: us$5,300 Hp> $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s). t6? t6-0 (Use a comma to separate answers as needed. Round to three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) OC. < and t> OD. t (c) Find the standardized test statistict. t= (Round to two decimal places s needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Reject Ho because the test statistic is not in the rejection region. O B. Fail to reject Ho because the test statistic is not in the rejection region. OC. Reject H because the test statistic is in the rejection region.
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 30 cardholders has a mean credit card balance of $5,400 and a standard deviation of $625. At a = 0.05, 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 H Which of the following correctly states Ho and H,? OB. Ho: > 5,300 Hus $5,300 OE. Ho: -$5,300 H $5.300 O A. Ho: 2 $5,300 Hpe$5,300 OC. Ho: $5,300 H p> $5.300 OD. Ho: > $5,300 Hus$5,300 OF. Ho: us$5,300 Hp> $5,300 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s). t6? t6-0 (Use a comma to separate answers as needed. Round to three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) OC. < and t> OD. t (c) Find the standardized test statistict. t= (Round to two decimal places s needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Reject Ho because the test statistic is not in the rejection region. O B. Fail to reject Ho because the test statistic is not in the rejection region. OC. Reject H because the test statistic is in the rejection region.
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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Transcribed Image Text:**Title: Testing a Claim About Credit Card Debt**
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 30 cardholders has a mean credit card balance of $5,400 and a standard deviation of $625. At α = 0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed.
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**a) Write the claim mathematically and identify \( H_0 \) and \( H_a \).**
Which of the following correctly states \( H_0 \) and \( H_a \)?
- A. \( H_0: \mu = \$5,300 \)
\( H_a: \mu \neq \$5,300 \)
- B. \( H_0: \mu \leq \$5,300 \)
\( H_a: \mu > \$5,300 \)
- C. \( H_0: \mu = \$5,300 \)
\( H_a: \mu > \$5,300 \)
- D. \( H_0: \mu \geq \$5,300 \)
\( H_a: \mu < \$5,300 \)
- E. \( H_0: \mu = \$5,300 \)
\( H_a: \mu < \$5,300 \)
- F. \( H_0: \mu \leq \$5,300 \)
\( H_a: \mu \neq \$5,300 \)
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**b) Find the critical value(s) and identify the rejection region(s).**
What is (are) the critical value(s), \( t_0 \)?
\( t_0 = \) \_\_ (Use a comma to separate answers as needed. Round to three decimal places as needed.)
Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.)
- A. \( t > \_\_ \)
- C. \( t < \_\_ \) and \( t > \_\_ \)
- B. \(\_\_ < t < \_\_ \)
- D. \( t < \_\_ \)
---
**c) Find the
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