(a) What is the variable of interest in this study? Is it qualitative or quantitative? (b) Do the results of the survey imply that the mean number of cards per individual is less than 4? Use the a= 0.05 level of significance. Click here to view the data from the survey. Click here to view the standard normal distribution table (page 1). Click here to view the standard normal distribution table (page 2). Click here to view the table of critical t-values. The P-value is in the range Make a conclusion regarding the hypothesis. The P-value the null hypothesis. There sufficient evidence to claim that the than the level of significance.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
### Credit Card Usage Analysis

According to a recent article about individuals who have credit cards, the mean number of cards per person with credit cards is 4. To test this result, a random survey of 60 individuals who have credit cards was conducted. The survey only includes the number of credit cards per participant. The results of the survey are attached below.

---

**Survey Analysis:**

**(a) Variable of Interest**
- What is the variable of interest in this study? Is it qualitative or quantitative?

**Answer:** The variable of interest is the number of credit cards per person. This is a quantitative variable.

**(b) Hypothesis Testing**
- Do the results of the survey imply that the mean number of cards per individual is less than 4? Use the α = 0.05 level of significance.

**Instructions for Analysis:**

1. **Data from the Survey:**
   - [Click here to view the data from the survey.](#)

2. **Standard Normal Distribution Table:**
   - [Click here to view the standard normal distribution table (page 1).](#)
   - [Click here to view the standard normal distribution table (page 2).](#)

3. **Table of Critical T-Values:**
   - [Click here to view the table of critical t-values.](#)

---

**P-Value Analysis:**

- The P-value is in the range:

  [Dropdown menu]

- Make a conclusion regarding the hypothesis.

  The P-value is [Dropdown menu] than the level of significance [Blank space]. 

  [Dropdown menu: less/greater]

---

**Hypothesis Conclusion:**
- There [Dropdown menu: is/is not] sufficient evidence to claim that the mean number of credit cards is [Blank space] 4.

---

### Notes:
- Links to survey data and statistical tables are provided for detailed analysis.
- The conclusion will be based on the comparison between the P-value and the level of significance (α = 0.05).

---

**Graphs and Diagrams:**
- This section refers to statistical tables and critical t-values essential for conducting hypothesis tests in statistical analysis.
- When conducting the hypothesis test, refer to the provided links for accurate values from the standard normal distribution and critical t-values tables.

---
Transcribed Image Text:### Credit Card Usage Analysis According to a recent article about individuals who have credit cards, the mean number of cards per person with credit cards is 4. To test this result, a random survey of 60 individuals who have credit cards was conducted. The survey only includes the number of credit cards per participant. The results of the survey are attached below. --- **Survey Analysis:** **(a) Variable of Interest** - What is the variable of interest in this study? Is it qualitative or quantitative? **Answer:** The variable of interest is the number of credit cards per person. This is a quantitative variable. **(b) Hypothesis Testing** - Do the results of the survey imply that the mean number of cards per individual is less than 4? Use the α = 0.05 level of significance. **Instructions for Analysis:** 1. **Data from the Survey:** - [Click here to view the data from the survey.](#) 2. **Standard Normal Distribution Table:** - [Click here to view the standard normal distribution table (page 1).](#) - [Click here to view the standard normal distribution table (page 2).](#) 3. **Table of Critical T-Values:** - [Click here to view the table of critical t-values.](#) --- **P-Value Analysis:** - The P-value is in the range: [Dropdown menu] - Make a conclusion regarding the hypothesis. The P-value is [Dropdown menu] than the level of significance [Blank space]. [Dropdown menu: less/greater] --- **Hypothesis Conclusion:** - There [Dropdown menu: is/is not] sufficient evidence to claim that the mean number of credit cards is [Blank space] 4. --- ### Notes: - Links to survey data and statistical tables are provided for detailed analysis. - The conclusion will be based on the comparison between the P-value and the level of significance (α = 0.05). --- **Graphs and Diagrams:** - This section refers to statistical tables and critical t-values essential for conducting hypothesis tests in statistical analysis. - When conducting the hypothesis test, refer to the provided links for accurate values from the standard normal distribution and critical t-values tables. ---
### Number of Credit Cards Per Participant

This dataset represents the number of credit cards held by individual participants in a study. The data is organized in a table format, with each row representing a participant and each column representing the number of credit cards they hold.

|   |   |   |   |   |   |   |
|---|---|---|---|---|---|---|
| 3 | 3 | 3 | 3 | 4 | 6 |
| 1 | 3 | 2 | 3 | 3 | 5 |
| 2 | 2 | 7 | 4 | 2 | 4 |
| 2 | 4 | 2 | 2 | 7 | 2 |
| 2 | 2 | 4 | 4 | 3 | 9 |
| 2 | 4 | 2 | 2 | 4 | 4 |
| 9 | 4 | 4 | 4 | 4 | 3 |
| 2 | 2 | 15 | 2 | 4 |
| 4 | 4 | 3 | 8 | 1 | 3 |

Each number in the table corresponds to the number of credit cards held by each participant. For instance, the first participant has 3 credit cards, the second participant has 1 credit card, and so on.

### Data Summary:
- The number of credit cards varies between participants.
- Some participants have as few as one credit card while others have up to 15 credit cards.

### Educational Objective:
This dataset can be used to teach students about data collection, data representation, and statistical analysis. By analyzing this data, students can learn to calculate mean, median, mode, and range, as well as to identify trends and patterns among participants.
Transcribed Image Text:### Number of Credit Cards Per Participant This dataset represents the number of credit cards held by individual participants in a study. The data is organized in a table format, with each row representing a participant and each column representing the number of credit cards they hold. | | | | | | | | |---|---|---|---|---|---|---| | 3 | 3 | 3 | 3 | 4 | 6 | | 1 | 3 | 2 | 3 | 3 | 5 | | 2 | 2 | 7 | 4 | 2 | 4 | | 2 | 4 | 2 | 2 | 7 | 2 | | 2 | 2 | 4 | 4 | 3 | 9 | | 2 | 4 | 2 | 2 | 4 | 4 | | 9 | 4 | 4 | 4 | 4 | 3 | | 2 | 2 | 15 | 2 | 4 | | 4 | 4 | 3 | 8 | 1 | 3 | Each number in the table corresponds to the number of credit cards held by each participant. For instance, the first participant has 3 credit cards, the second participant has 1 credit card, and so on. ### Data Summary: - The number of credit cards varies between participants. - Some participants have as few as one credit card while others have up to 15 credit cards. ### Educational Objective: This dataset can be used to teach students about data collection, data representation, and statistical analysis. By analyzing this data, students can learn to calculate mean, median, mode, and range, as well as to identify trends and patterns among participants.
Expert Solution
steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman