It has been reported that the average credit card debt for college seniors at the college book store for a specific college is $3262. The student senate at a large university feels that their

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 20PFA
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Please answer number 3 from a-e. Thanks!

For Exercises 3 through 5, perform each of the following steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use diagrams to show the critical region (or regions), and use the traditional method of
hypothesis testing unless otherwise specified.
3. Credit Card Debt.
It has been reported that the average credit card debt for college seniors at the college book
store for a specific college is $3262. The student senate at a large university feels that their
seniors have a debt much less than this, so it conducts a study of 50 randomly selected seniors
and finds that the average debt is $2995, and the population standard deviation is $1100. With
a = 0.05, is the student senate correct?
Transcribed Image Text:For Exercises 3 through 5, perform each of the following steps. a. State the hypotheses and identify the claim. b. Find the critical value(s). c. Compute the test value. d. Make the decision. e. Summarize the results. Use diagrams to show the critical region (or regions), and use the traditional method of hypothesis testing unless otherwise specified. 3. Credit Card Debt. It has been reported that the average credit card debt for college seniors at the college book store for a specific college is $3262. The student senate at a large university feels that their seniors have a debt much less than this, so it conducts a study of 50 randomly selected seniors and finds that the average debt is $2995, and the population standard deviation is $1100. With a = 0.05, is the student senate correct?
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