below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and H, Which of the following correctly states Ho and H,? O B. Hg: u=$4,700 O A. Hạ: p> $4,700 H, us$4,700 OC. Ho: = 54,700 H, p> $4,700 OF. Ho: u> $4,700 H, $4,700 OD. Ho: p2 $4,700 H, p<$4,700 O E. Ho us$4,700 H, u> $4,700 H, us$4,700 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? (Use a comma to separate answers as needed. Round to three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. o three decimal places as needed.) OA. t> OC. t< O B. t< and t> OD. «t« (c) Find the standardized test statistic t. t= (Round to two decimal places as needed.)

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A credit card company claims that the mean credit card debt for individuals is greater than $4,700. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $4,974 and a standard deviation of $675. At a= 0.05, can you support the claim? Complete parts (a) through
below. Assume the population is normally distributed.
(a) Write the claim mathematically and identify H, and Hą-
Which of the following correctly states H, and H,?
OC. Ho: µ= $4,700
H3: u> $4,700
Ο Α. Ho: μ> $4,700
Ο Β. Ho : μ 54,700
Ha: us $4,700
Ha: H#$4,700
O D. Ho: µ2 $4,700
H3: µ< $4,700
OF. Ho: u> $4,700
H3: us $4,700
Ο Ε. Ho : μ554,700
H3: u> $4,700
(b) Find the critical value(s) and identify the rejection region(s).
What is(are) the critical value(s), to ?
to = 0
(Use a comma to separate answers as needed. Round to three decimal places as needed.)
Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice.
(Round to three decimal places as needed.)
O A. t>
O B. t
and t>
O C. t<
OD.
<t<
(c) Find the standardized test statistic t.
t= (Round to two decimal places as needed.)
(d) Decide whether to reject or fail to reject the null hypothesis.
O A. Reject H, because the test statistic is in the rejection region.
O B. Reject Ho because the test statistic is not in the rejection region.
O C. Fail to reject H, because the test statistic is not in the rejection region.
O D. Fail to reject H, because the test statistic is in the rejection region.
Transcribed Image Text:A credit card company claims that the mean credit card debt for individuals is greater than $4,700. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $4,974 and a standard deviation of $675. At a= 0.05, can you support the claim? Complete parts (a) through below. Assume the population is normally distributed. (a) Write the claim mathematically and identify H, and Hą- Which of the following correctly states H, and H,? OC. Ho: µ= $4,700 H3: u> $4,700 Ο Α. Ho: μ> $4,700 Ο Β. Ho : μ 54,700 Ha: us $4,700 Ha: H#$4,700 O D. Ho: µ2 $4,700 H3: µ< $4,700 OF. Ho: u> $4,700 H3: us $4,700 Ο Ε. Ho : μ554,700 H3: u> $4,700 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to ? to = 0 (Use a comma to separate answers as needed. Round to three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) O A. t> O B. t and t> O C. t< OD. <t< (c) Find the standardized test statistic t. t= (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Reject H, because the test statistic is in the rejection region. O B. Reject Ho because the test statistic is not in the rejection region. O C. Fail to reject H, because the test statistic is not in the rejection region. O D. Fail to reject H, because the test statistic is in the rejection region.
(e) Interpret the decision in the context of the original claim.
O A. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $4,700.
O B. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $4,700.
OC. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $4,700.
O D. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $4,700.
Click to select your answer(s).
Transcribed Image Text:(e) Interpret the decision in the context of the original claim. O A. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $4,700. O B. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $4,700. OC. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $4,700. O D. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $4,700. Click to select your answer(s).
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