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A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find
A credit card company claims that the mean credit card debt for individuals is greater than $5,200. You want to test this claim. You find that a random sample of 34 cardholders has a mean credit card balance of $5,378 and a standard deviation of $550. At a= 0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify Ho and Ha- Which of the following correctly states H, and Ha? O A. Ho: us $5,200 O B. Ho: [ > $5,200 O C. Ho: H > $5,200 Ha: p > $5,200 Ha: us$5,200 He : us $5,200 O D. Ho: H = $5,200 O E. Ho: H = $5,200 OF. Ho: H 2 $5,200 He : p #$5,200 Ha : H > $5,200 Ha : p OC. t> O D. t
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