A survey was conducted two years ago asking college students their top motivations for using a credit card. You think the distribution has changed. You randomly select 425 college students and ask each one what the top motivation is for using a credit card. Can you conclude that there has been a change in the distribution? Use a=0.10. 1. Determine the critical value, and the rejection region. 2. Calculate the test statist

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A survey was conducted two years ago asking college students their top motivations for using a credit card. You think the distribution has changed. You randomly select 425 college students and ask each one what the top motivation is for using a credit card. Can you conclude that there has been a change in the distribution? Use a=0.10. 1. Determine the critical value, and the rejection region. 2. Calculate the test statistic.
Response
Rewards
Low rates
Cash back
Discounts
Other
Old Survey %
28%
23%
22%
7%
20%
New Survey Frequency, f
112
97
108
46
62
Transcribed Image Text:Response Rewards Low rates Cash back Discounts Other Old Survey % 28% 23% 22% 7% 20% New Survey Frequency, f 112 97 108 46 62
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