3) In a study about undergraduate student credit card usage, it was reported that undergraduate students have a mean credit card balance of $3173 (Sallie Mae, April 2009). This figure was an all-time high and had increased 44% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previous studies, assume a population standard deviation of 1600. Suppose you look at a random sample of 177 undergraduate students with a sample mean credit card balance of $3557.8. You wish to test the claim that the mean credit card balance is higher than it was in 2009 at the = = 0.10 level. What is the test statistic for this sample? test statistic = (Report answer accurate to 3 decimal places.) What is the p-value for this sample? p-value = (Report answer accurate to 4 decimal places.) The p-value is... less than (or equal to) greater than This test statistic leads to a decision to... reject the null accept the null fail to reject the null As such, the final conclusion is that... There is sufficient evidence to warrant rejection of the claim that the population mean is greater than 3173. There is not sufficient evidence to warrant rejection of the claim that the population mean is greater than 3173. The sample data support the claim that the population mean is greater than 3173. There is not sufficient sample evidence to support the claim that the population mean is greater than 3173. 4) A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 17.1 weeks. Assume that the population of all unemployed individuals is normally distributed with a population mean length of unemployment of 17.1 weeks and a population standard deviation of 4.5 weeks. Suppose you would like to select a random sample of 234 unemployed individuals for a follow-up study. Note: You should carefully round any intermediate values you calculate to 4 decimal places to match wamap's approach and calculations. Find the probability that a single randomly selected value is between 16.5 and 17.1. P(16.5 < X < 17.1) = Find the probability that a sample of size n = 234 n = 234 is randomly selected with a mean between 16.5 and 17.1. P(16.5 < x x < 17.1) = 5) You wish to test the following claim a significance level of = 0.10 = 0.10 . H o : p = 0.48 H o : p = 0.48 H a : p < 0.48 H a : p < 0.48 You obtain a sample of size n = 130 n = 130 in which there are 57 successful observations. What is the test statistic for this sample? test statistic = Round to 3 decimal places. What is the p-value for this sample? P-value = Use Technology Round to 4 decimal places. The p-value is... less than (or equal to) greater than This test statistic leads to a decision to... reject the null accept the null fail to reject the null As such, the final conclusion is that... There is sufficient evidence to warrant rejection of the claim that the population proportion is less than 0.48. There is not sufficient evidence to warrant rejection of the claim that the population proportion is less than 0.48. The sample data support the claim that the population proportion is less than 0.48. There is not sufficient sample evidence to support the claim that the population proportion is less than 0.48