The report Credit Card Statistics, Industry Facts, Debt Statistics (creditcards.com) summarizes a survey of college undergraduates. Each

The report €œCredit Card Statistics, Industry Facts, Debt Statistics€ (creditcards.com) summarizes a survey of college undergraduates. Each person in a sample of students was asked about his or her credit card balance, and the average balance was calculated to be $ 3,173. You are interested in determining if there is evidence that the mean credit card debt for undergraduates is greater than the known average from the previous year.
Answer the following four key questions (introduced in Section 7.2) and indicate whether the method that you would consider would be a large- sample hypothesis test for a population proportion.

Transcribed Image Text:

Question Type 5 study Type Estimation or hypothesis testing? Sample data or experiment data? One variable or two? Categorical Type of Data or numerical? How many samples or treatments? Number of samples or Treatments