Determine the null and alternative hypotheses. *Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice. (Round to three decimal places as needed.) *Calculate the appropriate test statistic. *State the conclusion. Reject or Accept? Does changing the value of alphaα from .05 to 0.01 affect the conclusion? Why or why not? (Round to three
According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569.
A researcher wants to find out if this number is lower now and collects data for a random sample of 40 college students. Their average credit card debt was found to be $535 with a sample standard deviation of $67.19.
Complete parts a through c.
- Using α=0.05, does this sample provide enough evidence to conclude that the average credit card balance of 18-to-20-year-old college students has decreased since 2016?
*Determine the null and alternative hypotheses.
*Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice.
(Round to three decimal places as needed.)
*Calculate the appropriate test statistic.
*State the conclusion. Reject or Accept?
- Does changing the value of alphaα from .05 to 0.01 affect the conclusion? Why or why not?
(Round to three decimal places as needed.)
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