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3. More and more Americans are becoming financially sound and opting to not own a credit card. According to an article in USA Today, 74%
3. More and more Americans are becoming financially sound and opting to not own a credit card. According to an article in USA Today, 74% of Americans still have at least one credit card. But this claim seems a little on the low side. In order to verify the claim that more than 74% of Americans have a credit card, a random sample of 900 Americans was taken and 76% of them owned a credit card and a p-value of 0.0857 was found. Use a 5% significance level. a. Write the null and alternative hypothesis. b. Use the p-value and the significance level to decide whether we should reject c. the null hypothesis or fail to reject the null hypothesis. d. Write a detailed sentence describing the true meaning of the p-value in the context of the problem.e. Was the sample data significantly different than the population value? f. How likely is it that the sample data happened by random chance? Explain
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