Question
Your credit card firm finds that, of 400 students receiving emails promoting a new credit card, 290 of them filled out an application. Among 60
Your credit card firm finds that, of 400 students receiving emails promoting a new credit card, 290 of them filled out an application. Among 60 students approached in-person at an on-campus event, 37 filled out an application.
Do you have enough evidence to say with 95% confidence that students are more likely to apply when contacted via email? Please use the critical-value method.
Suppose you were tasked with the analysis in part a to decide whether your firm should send a team of salespeople to many college campuses, at great expense, to promote the credit card, while the email contacts are far less expensive. What would you recommend to your manager, and how would your statistical analysis factor in? Please justify your answer. And note: for this, there is no correct answer, just justify results!
For the answer, please define the null and alternative hypothesis, state the significance level, compute value of test statistic, find critical value/p-value, and decide whether we reject/accept it.
Thank you very much! I will upvote immediately.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started