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How do you compute A credit card company claims that the mean credit card debt for individuals is greater than $4,700. You want to test

How do you compute

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A credit card company claims that the mean credit card debt for individuals is greater than $4,700. You want to test this claim. You find that a random sample of 34 cardholders has a mean credit card balance of $4,834 and a standard deviation of $625. At & = 0.05, can you support the claim? Complete parts (@) through (e) below. Assume the population is normally distributed. (@) Find the standardized test statistic t. 1= (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Fail to reject H because the test statistic is not in the rejection region. O B. Fail to reject H, because the test statistic is in the rejection region. O C. Reject Ho because the test statistic is in the rejection region. O D. Reject H, because the test statistic is not in the rejection region. (e) Interpret the decision in the context of the original claim. A. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $4,700. O B. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $4,700. O C. At the 5% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $4,700. O D. At the 5% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $4,700

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