Question

adults who live in a household that has multiple asset account tfinancial institutions, as well as additional investments. Unbanked consumers are adults who live in a household that does not Superbanked consumers are defined of Superbanked consumers use credit cards as compared to 29% of Unbanked consumers. Suppose that these reasults were based on 1.000 Superbanked consumers and 1.000 Unbanked consumers, Complete (a) and (b) below. a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect the proportion that use credit cards? represent the proportion of Superbanked consumers that use credit cards, and I T represent the proportion of Unbanked consumers that use credit cards. Set up the null and alternative hypotheses to test Let H: H Calculate the test stutistic. (Round to two decimal placos as needed.) Determine the critical value. 01 (Round to two decimal places as needed.) State the conclusion the critical value, do not reject the null hypothesis. There is evidence to conclude there is a significant difference between the proportion Since the test statistic is greater than sufficient f the Superbanked and the Unbanked with respect to using credit cards. b. Determine the p-value In (a) and interpret its meaning. p-value (Round to three decimal places s needed.) Interpret the p-value The p-value is the probability that in a random sample of 1,000 Superbanked consumers and 1,000 Unbanked consumers, the difference between the proportions of Superbanked and Unbanked consumers with a credit card is t least as big as the difference in this sample, assurning that the proportion of Superbank consurners who use a credit card is the same as the proportion for Unbanked consumers in the population.

Answer 1

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