Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Response Old Survey % New Survey Frequency, / A survey was conducted two years ago asking college students their top motivations for using a credit

image text in transcribed
Response Old Survey % New Survey Frequency, / A survey was conducted two years ago asking college students their top motivations for using a credit card, You think this distribution has changed. You randomly select 425 college students and ask each one what the top motivation is for using a credit card. Can you conclude that there has been a Rewards 27% 110 change in the distribution? Use a = 0.10. Complete parts (a) through (d)- Low rates 24% 98 Cash back 21% 108 Discounts 8 48 Other 20% 61 (b) Determine the critical value, Xo. and the rejection region. Xo = (Round to three decimal places as needed.) Choose the correct rejection region below. OA X 2 XO OB. X XO (c) Calculate the test statistic. x = (Round to three decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. Then interpret the decision in the context of the original claim. | Ho. At the 10% significance level, there V enough evidence to conclude that the distribution of motivations the old survey

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Several Real Variables

Authors: Shmuel Kantorovitz

1st Edition

3319279564, 9783319279565

More Books

Students also viewed these Mathematics questions