According to a published report, for a representative sample of 500 college students with TCF Bank credit cards, the sample mean credit card balance was $884 and the sample standard deviation of the credit card balances was $200. Test if the mean credit card balance for college students with TCF Bank credit cards is significantly lower than $906, the mean credit card balance for all college students with credit cards, with α = 0.01. You may assume that the appropriate normality assumption is satisfied.
According to a published report, for a representative sample of 500 college students with TCF Bank credit cards, the sample mean credit card balance was $884 and the sample standard deviation of the credit card balances was $200. Test if the mean credit card balance for college students with TCF Bank credit cards is significantly lower than $906, the mean credit card balance for all college students with credit cards, with α = 0.01. You may assume that the appropriate normality assumption is satisfied.
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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According to a published report, for a representative sample of 500 college students with TCF Bank credit
cards, the sample
balances was $200. Test if the mean credit card balance for college students with TCF Bank credit cards is
significantly lower than $906, the mean credit card balance for all college students with credit cards, with
α = 0.01. You may assume that the appropriate normality assumption is satisfied.
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