Among individuals who have credit cards in 2010, the mean number of cards is 3.5 according to

Question:

Among individuals who have credit cards in 2010, the mean number of cards is 3.5 according to the Federal Reserve Bank of Boston. Treat the individuals who have credit cards in the Sullivan Statistics Survey as a simple random sample of credit card holders. The n = 160 individuals have a mean of 3.3 cards and a standard deviation of 2.3 cards. Do the results of the survey imply that the mean number of cards per individual is less than 3.5? Use the α = 0.05 level of significance.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals Of Statistics

ISBN: 9780321844606

4th Edition

Authors: Michael Sullivan III

Question Posted: