Question
This data set contains information on U.S. non-mortgage household debt ($) and U.S. annual food spending per household ($). Household debt is defined as all
This data set contains information on U.S. non-mortgage household debt ($) and U.S. annual food spending per household ($). Household debt is defined as all household liabilities that require payment of interest and/or principal to creditors by a fixed date in the future. Non-mortgage household debt is all household debt but excluding home loans. This debt can include credit cards, student loans, car loans, etc. U.S. annual food spending per household includes expenditures for food at home (groceries) and food away from home (restaurants).
1. (Are there differences in the proportion of households with non-mortgage household debt by debt group, at the 5% significance level?)
- Describe the type of hypothesis test you are using to answer the question.
- Report the test statistic and p-value in a complete sentence.
- State the decision and conclusion to the test.
Non-mortgage Household debt ($) | Number of Households |
$0 | 6 |
$1-$10,000 | 48 |
$10,001-$20,000 | 86 |
$20,001-$30,000 | 48 |
$30,001+ | 12 |
Total | 200 |
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