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QUESTION 30 Using basic demographic information (age, household income, marital status, etc.), you collect a random sample size 184 customers who accepted a special balance transfer offer from a major credit card company six months ago. The company wants to determine if there is evidence that it would profit by offering the deal to the population of customers with those same demographic characteristics. The sample mean balance transfer amount is 1919 with a sample standard deviation of 446, Based on the information above, if the company were to perform a hypothesis test at a = 0.05, what is the largest value it could specify in the null hypothesis and still fail to reject the null hypothesis? Hint: Think about the relationship between hypothesis tests and intervals. Specifically, think about how a test done at a =0.05 %3D would relate to a 95% confidence interval?

QUESTION 30 Using basic demographic information (age, household income, marital status, etc.), you collect a random sample size 184 customers who accepted a special balance transfer offer from a major credit card company six months ago. The company wants to determine if there is evidence that it would profit by offering the deal to the population of customers with those same demographic characteristics. The sample mean balance transfer amount is 1919 with a sample standard deviation of 446, Based on the information above, if the company were to perform a hypothesis test at a = 0.05, what is the largest value it could specify in the null hypothesis and still fail to reject the null hypothesis? Hint: Think about the relationship between hypothesis tests and intervals. Specifically, think about how a test done at a =0.05 %3D would relate to a 95% confidence interval?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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QUESTION 30 Using basic demographic information (age, household income, marital status, etc.), you collect a random sample size 184 customers who accepted a special balance transfer offer from a major credit card company six months ago. The company wants to determine if there is evidence that it would profit by offering the deal to the population of customers with those same demographic characteristics. The sample mean balance transfer amount is 1919 with a sample standard deviation of 446, Based on the information above, if the company were to perform a hypothesis test at a 0.05, what is the largest value it could specify in the null hypothesis and still fail to reject the null hypothesis? Hint: Think about the relationship between hypothesis tests and intervals. Specifically, think about how a test done at a =0.05 %3D would relate to a 95% confidence interval?
Transcribed Image Text:QUESTION 30 Using basic demographic information (age, household income, marital status, etc.), you collect a random sample size 184 customers who accepted a special balance transfer offer from a major credit card company six months ago. The company wants to determine if there is evidence that it would profit by offering the deal to the population of customers with those same demographic characteristics. The sample mean balance transfer amount is 1919 with a sample standard deviation of 446, Based on the information above, if the company were to perform a hypothesis test at a 0.05, what is the largest value it could specify in the null hypothesis and still fail to reject the null hypothesis? Hint: Think about the relationship between hypothesis tests and intervals. Specifically, think about how a test done at a =0.05 %3D would relate to a 95% confidence interval?
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