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The average credit card debt for a recent year was $9205. Five years earlier the average credit card debt was $6618. Assume sample sizes of 37 were used and the population standard deviations of both samples were $1913. Find the 99% confidence interval of the difference in means. Use μ₁ for the most recent average debt. Round the answers to two decimal places.

The average credit card debt for a recent year was $9205. Five years earlier the average credit card debt was $6618. Assume sample sizes of 37 were used and the population standard deviations of both samples were $1913. Find the 99% confidence interval of the difference in means. Use μ₁ for the most recent average debt. Round the answers to two decimal places.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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The average credit card debt for a recent year was $9205. Five years earlier, the average credit card debt was $6618. Assume sample sizes of 37 were used and the population standard deviations of both samples were $1913. Find the 99% confidence interval of the difference in means. Use \( \mu_1 \) for the most recent average debt. Round the answers to two decimal places. There is a placeholder for entering the lower and upper bounds of the confidence interval in the format: \[ \$ \_\ < \mu_1 - \mu_2 < \$ \_\ \] Additionally, there are 'check' and 'reset' buttons depicted, possibly for submitting the answer and resetting the entry fields.
Transcribed Image Text:The average credit card debt for a recent year was $9205. Five years earlier, the average credit card debt was $6618. Assume sample sizes of 37 were used and the population standard deviations of both samples were $1913. Find the 99% confidence interval of the difference in means. Use \( \mu_1 \) for the most recent average debt. Round the answers to two decimal places. There is a placeholder for entering the lower and upper bounds of the confidence interval in the format: \[ \$ \_\ < \mu_1 - \mu_2 < \$ \_\ \] Additionally, there are 'check' and 'reset' buttons depicted, possibly for submitting the answer and resetting the entry fields.
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