Question

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 hypotheses. Choose the correct answer below. O A. Ho:p>0.25 Hyp5 0.25 O C. Ho:p=0.25 Hy:p*0.25 Determine the critical value of the test statistic. za (Type an integer or decimal rounded to two decimal places as needed.) Calculate the test statistic. (Type an integer or decimal rounded to two decimal places as needed.) Determine the conclusion. Choose the correct answer below. O A. Do not reject Ho. There is sufficient evidence to conclude that the proportion of students who make partial p OB. Do not reject Ho There is not sufficient evidence to conclude that the proportion of students who make parti O c. Reject Ho. There is sufficient evidence to conclude that the proportion of students who make partial paymen O D. Reject Ho. There is not sufficient evidence to conclude that the proportion of students who make partial pay

Answer 1

n=360 01-68 360 -0.1889 (a) option ③ Hoi p=0.25 (US) Hi : P<0.25 significance tenel (6) at 2=0.01 Critical Value Za= -2.33) P-þ (c) The test statistic 2 p(15) 1-2.68 0.1889-0.25 0.25x0.75 360 conclusion option o Reject to. There is sufficient evidence for p< 0.25 (277)