Credit card debt: Following are outstanding credit card balances for a sample of 16 college seniors at a large university. 409 550 1299 353 610 814 386 688 1567 979 2258 2482 1753 1674 Send data to Excel According to a report, the mean outstanding balance for college seniors in a recent year was $522. Perform a hypothesis test to determine whether the mean debt for seniors at this university differs from $522. Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator. Part 1 of 5 (a) State the appropriate null and alternate hypotheses. Ho:μ=522 H₁: 522 This hypothesis test is a two-tailed Part 2 of 5 Part 3 of 5 1513 528 test. X 0<0 0>0 0-0 X (b) Compute the value of the test statistic. Round the answer to at least three decimal places. H (c) Compute the P-value of the test statistic. Round the answer to at least four decimal places. Españo

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Credit card debt: Following are outstanding credit card balances for a sample of 16 college seniors at a large university.
409
550 1299 353 610 814 386 1513
688
1567 979 2258 2482 1753 1674 528
Send data to Excel
According to a report, the mean outstanding balance for college seniors in a recent year was $522. Perform a hypothesis test to determine whether the mean
debt for seniors at this university differs from $522. Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator.
Part 1 of 5
(a) State the appropriate null and alternate hypotheses.
Hy: | u = 522
H₁: 522
This hypothesis test is a two-tailed ▼ test.
Part 2 of 5
[=
Part 3 of 5
(b) Compute the value of the test statistic. Round the answer to at least three decimal places.
x
Palun =
O<O
3
O>O ローロ
ロメロ H
X
(c) Compute the P-value of the test statistic. Round the answer to at least four decimal places.
Español
Transcribed Image Text:Credit card debt: Following are outstanding credit card balances for a sample of 16 college seniors at a large university. 409 550 1299 353 610 814 386 1513 688 1567 979 2258 2482 1753 1674 528 Send data to Excel According to a report, the mean outstanding balance for college seniors in a recent year was $522. Perform a hypothesis test to determine whether the mean debt for seniors at this university differs from $522. Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator. Part 1 of 5 (a) State the appropriate null and alternate hypotheses. Hy: | u = 522 H₁: 522 This hypothesis test is a two-tailed ▼ test. Part 2 of 5 [= Part 3 of 5 (b) Compute the value of the test statistic. Round the answer to at least three decimal places. x Palun = O<O 3 O>O ローロ ロメロ H X (c) Compute the P-value of the test statistic. Round the answer to at least four decimal places. Español
Part 3 of 5
(c) Compute the P-value of the test statistic. Round the answer to at least four decimal places.
P-value =
Part 4 of 5
(d) Determine whether to reject Ho.
Reject
Part: 4/5
Part 5 of 5
the null hypothesis Ho.
(e) State a conclusion.
There is not
$
S
enough evidence to conclude that the mean debt for seniors at this university differs from $522.
X
Ś
(Español
Transcribed Image Text:Part 3 of 5 (c) Compute the P-value of the test statistic. Round the answer to at least four decimal places. P-value = Part 4 of 5 (d) Determine whether to reject Ho. Reject Part: 4/5 Part 5 of 5 the null hypothesis Ho. (e) State a conclusion. There is not $ S enough evidence to conclude that the mean debt for seniors at this university differs from $522. X Ś (Español
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