According to the analysis of Federal Reserve statistics and other government data, American households with credit card debts owed an average of $15,706 on their credit cards in August 2015. A recent random sample of 500 American households with credit card debts produced a mean credit card debt of $16,377 with a standard deviation of $3800. Do these data provide significant evidence at a 1% significance level to conclude that the current mean credit card debt of American households with credit card debts is higher than $15,706? Use both the p-value approach and the critical-value approach.

Q: A college entrance exam company determined that a score of 24 on the mathematics portion of the exam…

A: we have to find hypothesis

Q: According to one study, the average hours of sleep on a weeknight for men was 6.9 hours with a…

A:

Q: What cutoff score(s) should be used? ±3.356   ±2.447   ±3.708   +1.943

A: The degrees of freedom is, df=n1+n2-2=4+4-2=6 The degrees of freedom is 6.

Q: The measurement of head circumference is closely tracked in pediatric medicine.  Microcephaly…

A: From the given information, The average cranium for an adult female in Turkey measures 54.57 cm in…

Q: A car insurance company tells its prospective customers that they can save an average of at least…

A:

Q: On their website, a property management company states that the mean monthly rent for apartments on…

A: Dear students as per guidelines we answer the first three subparts only when multiple different…

Q: The Economic Policy Institute published results of a study on American workers’ retirement savings.…

A: There are two independent samples which are single American workers and married American workers. We…

Q: In a random sample of 23 private school teachers in queens county the average teaching experience is…

A:

Q: arry your intermediate computations to three or more decimal places. (If necessary, consult a list…

A: It is given that  Population mean, μ = 725 Sample mean, X̄ = 706 Sample standard deviation, s = 25…

Q: A college entrance exam company determined that a score of 24 on the mathematics portion of the exam…

A: Consider the following information- μ=24x¯=24.2s=3.3n=250

Q: According to a survey, working men reported doing 62.7 minutes of household chores a day, while…

A: The sample statistics for all men and all women who spend time doing household chores are given…

Q: In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate…

A: Given that, sample size n=100 sample mean credit card balance x¯=3506 Population standard deviation…

Q: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious…

A: Step 1: To find the 99% confidence interval for the average salary of CFA charterholders, we can use…

Q: Conscientiousness is a tendency to show self-discipline, act dutifully, and aim for achievement. The…

A: Given that  Sample sizes n1=350      , n2=300       Sample means X̄1=153      , X̄2=148        s1…

Q: According to a new study by ABC, the average time spent by young adults ages 20 to 25 in using their…

A: Given information Level of significance=0.10, n=sample size=30, sample mean x̄=7.8, s=sample…

Q: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious…

A: Obtain the 90% confidence interval for the average salary of a CFA charter holder. The 90%…

Q: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious…

A: Given,sample size(n)=45sample mean(x¯)=$155,000sample standard deviation(s)=$18,000degrees of…

Q: According to the Runzheimer International, a typical business traveler spends an average of $281 per…

A: Here, µ = $281, σ = 47, and n = 65.

Q: incomes of government employees living in the San Francisco Bay area during the same period. A…

A: Given that  Hypothesized Population Mean (\mu)(μ) = 1463214632 Sample Standard Deviation (s)(s)…

Q: ent company states that the mean monthly rent for apartments on the east side of town is $750. A…

A: Note- Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: he U.S. Department of Labor collects data on unemployment insurance payments made to unemployed…

A:

Q: In it's Fuel Ecoomy Guide, the Environmental Protection Agency gives a variety of data on 2016 model…

A: Note:- As per our policy, we answer only 3 sub-parts at a time. Please make a new request for the…

Q: study indicates that​ 18- to​ 24- year olds spend a mean of 115 minutes watching video on their…

A:

Q: The Robotics Manufacturing Company operates an equipment repair business where emergency jobs arrive…

A: Part A:For arrival rate:λ=RateperdayNumberofjobs​=82​=0.25Therefore, the arrival rate is 0.25 per…

Q: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious…

A: Confidence interval give a range of values for the unknown parameter of the population. The width of…

Q: Trent Capital Management has 240 full-time employees who are currently covered under the company's…

A: Pet X be the trent capital management n=30,σ=575=standard deviation, μ=2080=mean

Q: Eddie Clauer sells a wide variety of outdoor equipment and clothing. The company sells both through…

A: The 90% confidence of the diffeence of population mean [$-37.156 , $0.756] #Rounded to 3 decimal…

Q: American adults spend an average of 11 (standard deviation of 2.5 hours) hours per day watching,…

A:

Q: A bank has historically found that the average money charges in recent years on its credit card were…

A: Given:Mean() = 1376.54Standard deviation(s) =183.89total number of observation (n) = 42The Null…

Q: A report states that the mean yearly salary offer for students graduating with a degree in…

A: From the provided information, Sample size (n) = 50 Sample mean (x̅) = 49830 Sample standard…

Q: a) State the appropriate null and alternative hypotheses. Fill in the correct answers below. The…

A: here , given A college entrance exam company determined that a score of 22 on the mathematics…

Q: In its Fuel Economy Guide for 2016 model vehicles, the Environmental Protection Agency gives data on…

A: From the given information, mean is 23 and standard deviation is 4.9.The Z score is,

Q: K.Brew sells a wide variety of outdoor equipment and clothing.  The company sells both through mail…

A: Given:n1 = 18 = 81.30s1 = 16.25n2 = 9 = 67s2 = 15.25Formula Used:

Q: A report states that the mean yearly salary offer for students graduating with mathematics and…

A: According to the given information in this question, we need to answer all the parts

Q: York Manufacturing Inc. offers dental insurance to its employees. A recent study by the human…

A: Population mean μ =1234 Population standard deviation =321

Q: Formulate the null and alternative hypotheses that can be used to suggest that the average earnings…

A: It is an important problem in testing of hypothesis . It has got wide applications in all types of…

Q: Salvatore, as the director of a regional bank, is concerned about the wait times of customers at the…

A: 48 patrons at each branch selected, For each branch means and standard deviation mentioned. We have…

Q: The manager of the local Walmart Supercenter is studying the number of items purchased by customers…

A: (As per our standard guidelines, we are supposed to answer only 3 sub-parts)To find the mean number…

Q: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious…

A: According to the given information in this question, we need to construct 95% confidence interval

Q: A cell phone company offers contract phones and non-contract phones.  In a sample of 40 contract…

A: Given that, In a sample of 40 contract subscribers, the mean yearly income was found to be $57,000…