According to American Consumer Credit Counseling statistics, credit card debt is the third largest source of household indebtedness. The following data were collected from a random sample of 12 credit cards. (See the example on page 359 of your textbook for a similar problem.) 21 Credit Card Balance 5 14.596.00 $ 17.434.00 5 580200 $ 6.542.00 5 10.401.00 5 12 357.00 $ 1,574.00 7,374.00 5 16.057.00 $ $ 9,136.00 Question Does the data indicate the mean credit card balance is less than $4900001? Step 1 4900 Step 2 Eerit Step 3 Fatin rows if the hypothesis is one talled Reject H 2718 Fill in row 52 if the hypothesis is totalled. The smaller number must be typed for 54 Step 4: 2.3432 Step 5: Fail to Reject H Step 6: TNLTC 4900 SS 56 57 58 59 60 61 62 63 64 Step 7: Fill in row 62 if the Z table is appropriate P-value Fill in row 66 if the t table is appropriate. The lower boundary must go on the left and the upper boundary on the right P-value Question 18 Construct a 80% confidence interval for the population mean credit card balance 67 68 69 20 71 72 73 74 75 78 Lower Endpoint Upper Endpoint Question 10 What would the P-value be if this were a two tail hypothesis test? (Mathematically manipulate the P-value from part A to get your answer) Fili in row 78 if the table is appropriate P-value 78 79 Fill in row 82 if the t table is appropriate. The lower boundary must go on the left and the upper boundary on the right P-value 82 83 According to American Consumer Credit Counseling statistics, credit card debt is the third largest source of household indebtedness. The following data were collected from a random sample of 12 credit cards. (See the example on page 359 of your textbook for a similar problem.) 21 Credit Card Balance 5 14.596.00 $ 17.434.00 5 580200 $ 6.542.00 5 10.401.00 5 12 357.00 $ 1,574.00 7,374.00 5 16.057.00 $ $ 9,136.00 Question Does the data indicate the mean credit card balance is less than $4900001? Step 1 4900 Step 2 Eerit Step 3 Fatin rows if the hypothesis is one talled Reject H 2718 Fill in row 52 if the hypothesis is totalled. The smaller number must be typed for 54 Step 4: 2.3432 Step 5: Fail to Reject H Step 6: TNLTC 4900 SS 56 57 58 59 60 61 62 63 64 Step 7: Fill in row 62 if the Z table is appropriate P-value Fill in row 66 if the t table is appropriate. The lower boundary must go on the left and the upper boundary on the right P-value Question 18 Construct a 80% confidence interval for the population mean credit card balance 67 68 69 20 71 72 73 74 75 78 Lower Endpoint Upper Endpoint Question 10 What would the P-value be if this were a two tail hypothesis test? (Mathematically manipulate the P-value from part A to get your answer) Fili in row 78 if the table is appropriate P-value 78 79 Fill in row 82 if the t table is appropriate. The lower boundary must go on the left and the upper boundary on the right P-value 82 83
