Question
In a recent study, it was reported that nationwide, undergraduate students have a mean credit card balance of $3,850. A random sample of 140 Indiana
In a recent study, it was reported that nationwide, undergraduate students have a mean credit card balance of $3,850. A random sample of 140 Indiana undergraduate students revealed a sample mean of $3,675 and standard deviation of $1,285. Does the sample provide significant evidence that the mean credit card balance of Indiana undergraduates is different than the national average?
Using the sample information, first build a 95% confidence interval for the mean credit card balance of all Indiana undergraduates.
L = ______
U = ______
a)The confidence interval captures = 3,850. Do not reject H. Conclude that the mean credit card balance of Indiana undergraduates in not different from the national average.
b)Compared to the MOE, x is within the margin of error. Conclude that the mean credit card balance of Indiana undergraduates in not different from the national average.
c)The confidence interval does not capture = 3,850. Reject H. Conclude that the mean credit card balance of Indiana undergraduates in different from the national average.
d)Compared to the MOE, x is outside the margin of error. Conclude that the current mean score is different from the historical mean score.
e)Both a and b are correct.
f)Both c and d are correct.
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