Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260579611
Author: Douglas Lind; William Marchal; Samuel Wathen
Publisher: MCGRAW-HILL HIGHER EDUCATION
bartleby

Videos

Textbook Question
Book Icon
Chapter 11, Problem 3SR

It is often useful for companies to know who their customers are and how they became customers. A credit card company is interested in whether the owner of the card applied for the card on his or her own or was contacted by a telemarketer. The company obtained the following sample information regarding end-of-the-month balances for the two groups.

Chapter 11, Problem 3SR, It is often useful for companies to know who their customers are and how they became customers. A

Is it reasonable to conclude the mean balance is larger for the credit card holders that were contacted by telemarketers than for those who applied on their own for the card? Assume the population standard deviations are not the same. Use the .05 significance level.

  1. (a) State the null hypothesis and the alternate hypothesis.
  2. (b) How many degrees of freedom are there?
  3. (c) What is the decision rule?
  4. (d) What is the value of the test statistic?
  5. (e) What is your decision regarding the null hypothesis?
  6. (f) Interpret the result.
Blurred answer

Chapter 11 Solutions

Statistical Techniques in Business and Economics

Knowledge Booster
Background pattern image
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Text book image
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Text book image
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Text book image
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Hypothesis Testing using Confidence Interval Approach; Author: BUM2413 Applied Statistics UMP;https://www.youtube.com/watch?v=Hq1l3e9pLyY;License: Standard YouTube License, CC-BY
Hypothesis Testing - Difference of Two Means - Student's -Distribution & Normal Distribution; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=UcZwyzwWU7o;License: Standard Youtube License