Question
According to a recent article about individuals who have credit cards, the mean number of cards per person with credit cards is 4 . To
According to a recent article about individuals who have credit cards, the mean number of cards per person with credit cards is
4
.
To test this result a random survey of
60
individuals who have credit cards was conducted. The survey only includes the number of credit cards per participant. The results of the survey are attached below.
(a) What is the variable of interest in this study? Is it qualitative or quantitative?
(b) Do the results of the survey imply that the mean number of cards per individual is less than
4
?
Use the
alpha
equals0.05
level of significance.
Part 1
(a) What is the variable of interest in this study? Is it qualitative or quantitative?
The variable of interest is
credit score.
number of people.
number of credit cards.
type of credit card.
It is a
quantitative
qualitative
variable.
Part 2
(b) Do the results of the survey imply that the mean number of cards per individual is less than
4
?
Use the
alpha
equals0.05
level of significance. State the null and alternative hypotheses.
Upper H 0
:
ModifyingAbove p with caret
sigma
mu
p
x overbar
s
greater than
equals
less than
not equals
enter your response here
Upper H 1
:
s
mu
x overbar
sigma
ModifyingAbove p with caret
p
greater than
equals
less than
not equals
enter your response here
(Type integers or decimals. Do not round.)
Part 3
Determine the test statistic.
t 0
z 0equalsenter your response here
(Round to two decimal places as needed.)
Part 4
Approximate the P-value.
The P-value is in the range
0.05 less than Upper P dash value less than 0.10 .
0.01 less than Upper P dash value less than 0.05 . Upper P dash value less than 0.01 . Upper P dash value greater than 0.10 .
Part 5
Make a conclusion regarding the hypothesis.
The P-value is
greater
less
than the level of significance.
Do not reject
Reject
the null hypothesis. There
is not
is
sufficient evidence to claim that the mean number of credit cards is
equal to
less than
greater than
4
.
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