. In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate...
. In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students have a mean credit card balance of $3173 (Sallie Mae, April 2009). This figure was an all-time high and had increased 44% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previous studies, use a population standard deviation σ=$1000.
a. State the null and alternative hypotheses.
b. What is the p-value for a sample of 180 undergraduate students with a sample mean
credit card balance of $3325?
c. What is the critical value if
d. Using 0.05 level of significance, what is your conclusion? Use p-value and critical value
Homework Answers
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. In a study entitled How Undergraduate Students Use Credit
Cards, it was reported that undergraduate...
In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students...
In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students have a mean credit card balance of $3,304. This figure was an all-time high and had increased 41% over the previous five years. Assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the report. Based on previous studies, use a population standard deviation...
2. (6 pts) A credit bureau analysis of undergraduate students credit records found that the average...
2. (6 pts) A credit bureau analysis of undergraduate students credit records found that the average number of credit cards in an undergraduate's wallet was 4.09 ("Undergraduate Students and Credit Cards in 2004," Nellie Mae, May 2005). It was also reported that in a random sample of 132 undergraduates, the sample mean number of credit cards that the students said they carried was 2.6. The sample standard deviation was not reported, but for purposes of this exercise, suppose that it...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage theit card balance in full every month and 25% of students who own credit cards make partial payments that exceed the has changed since 2015 and collect data from a random sample of 380 students. You find that 70 students are ma Q = 0.05, complete parts a and b below. O C. Ho:p>0.25 OD. HE H1: ps 0.25 H Determine the critical...
1.1/7 POINTS PREVIOUS ANSWERS PODSTATS 10.6.051. MY NOTI A credit bureau analysis of undergraduate students' credit...
1.1/7 POINTS PREVIOUS ANSWERS PODSTATS 10.6.051. MY NOTI A credit bureau analysis of undergraduate students' credit records found that the average number of credit cards in an undergraduate's wallet was 4.05. It was also reported that in a random sample of 132 undergraduates, the sample mean number of credit cards that the students sald they carried was 2.5. The sample standard deviation was not reported, but for purposes of this exerdse, suppose that it was 1.2. Is there convincing evidence...
The Nellie Mae organization found that in a random sample of undergraduate students taken in 2004,...
The Nellie Mae organization found that in a random sample of undergraduate students taken in 2004, the average credit card balance was $2169. Take the sample size to be 1074, which corresponds to the 76 % of the sample of 1413 students who hold a credit card. Suppose (for now) the sample standard deviation of these credit card balances is $ 1000 a. Conduct a significance test of whether or not the sample data provide strong evidence (at the =...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their 25% of students who own credit cards make partial payments that exceed the minimum amount due. You are curiou students. You find that 68 students are making partial payments on their credit cards that exceed the minimum amou a. Does this sample provide support for the hypothesis that the proportion of students who make partial payments th Determine the null and alternative...
A report about how American college students manage their finances includes data from a survey of...
A report about how American college students manage their finances includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid their balance in full each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation...
A report about how American college students manage their finances Includes data from a survey of...
A report about how American college students manage their finances Includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid the balance in each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation of...
Economists suggest that students not accrue more than $2000 in credit card debt before graduating from...
Economists suggest that students not accrue more than $2000 in credit card debt before graduating from college. In 2004, the Nellie Mae organization surveyed a random sample of 1074 U.S. college students about their credit situation and used the data to test the hypotheses: Ho: - 2000 Hoiu > 2000, where is the mean credit card debt for all US college students in 2004. The students in the survey had an average credit card debt of $2169. The p-value for...
A group of undergraduate students at Cal Poly (Mintz, Mintz, Moore, and Schuh, 2002) conducted a study examining h...
A group of undergraduate students at Cal Poly (Mintz, Mintz, Moore, and Schuh, 2002) conducted a study examining how much weight students carry in their backpacks. They weighed the backpacks of 100 students and compared the distributions of backpack weights between men and women. The student researchers also recorded the body weight of each student and computed the ratio of backpack weight to body weight for each student. a. Is this ratio a categorical or quantitative variable? b. Conduct a...
2. (6 pts) A credit bureau analysis of undergraduate students credit records found that the average number of credit cards in an undergraduate's wallet was 4.09 ("Undergraduate Students and Credit Cards in 2004," Nellie Mae, May 2005). It was also reported that in a random sample of 132 undergraduates, the sample mean number of credit cards that the students said they carried was 2.6. The sample standard deviation was not reported, but for purposes of this exercise, suppose that it...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage theit card balance in full every month and 25% of students who own credit cards make partial payments that exceed the has changed since 2015 and collect data from a random sample of 380 students. You find that 70 students are ma Q = 0.05, complete parts a and b below. O C. Ho:p>0.25 OD. HE H1: ps 0.25 H Determine the critical...
1.1/7 POINTS PREVIOUS ANSWERS PODSTATS 10.6.051. MY NOTI A credit bureau analysis of undergraduate students' credit records found that the average number of credit cards in an undergraduate's wallet was 4.05. It was also reported that in a random sample of 132 undergraduates, the sample mean number of credit cards that the students sald they carried was 2.5. The sample standard deviation was not reported, but for purposes of this exerdse, suppose that it was 1.2. Is there convincing evidence...
The Nellie Mae organization found that in a random sample of undergraduate students taken in 2004, the average credit card balance was $2169. Take the sample size to be 1074, which corresponds to the 76 % of the sample of 1413 students who hold a credit card. Suppose (for now) the sample standard deviation of these credit card balances is $ 1000 a. Conduct a significance test of whether or not the sample data provide strong evidence (at the =...
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their 25% of students who own credit cards make partial payments that exceed the minimum amount due. You are curiou students. You find that 68 students are making partial payments on their credit cards that exceed the minimum amou a. Does this sample provide support for the hypothesis that the proportion of students who make partial payments th Determine the null and alternative...
A report about how American college students manage their finances includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid their balance in full each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation...
A report about how American college students manage their finances Includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid the balance in each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation of...
Economists suggest that students not accrue more than $2000 in credit card debt before graduating from college. In 2004, the Nellie Mae organization surveyed a random sample of 1074 U.S. college students about their credit situation and used the data to test the hypotheses: Ho: - 2000 Hoiu > 2000, where is the mean credit card debt for all US college students in 2004. The students in the survey had an average credit card debt of $2169. The p-value for...
A group of undergraduate students at Cal Poly (Mintz, Mintz, Moore, and Schuh, 2002) conducted a study examining how much weight students carry in their backpacks. They weighed the backpacks of 100 students and compared the distributions of backpack weights between men and women. The student researchers also recorded the body weight of each student and computed the ratio of backpack weight to body weight for each student. a. Is this ratio a categorical or quantitative variable? b. Conduct a...
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