A credit card company claims that the mean credit card debt for individuals is greater than $4,900. You want to test this claim. You find that a random sample of 31 cardholders has a mean credit card balance of $5,193and a standard deviation of $575. Atα=0.01​, can you support the​ claim?  Which of the following correctly states H0 and Ha​? What​ is(are) the critical​ value(s), t0​? Determine the rejection​ region(s). Find the standardized test statistic t. Decide whether to reject or fail to reject the null hypothesis. Interpret the decision in the context of the original claim.

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A:

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.