According to the government lending institute Sallie Mae, students graduating college in United States have an average credit card debt of $6,130 with a standard deviation of $840. A random sample of 27 graduating seniors was selected, and their average credit card debt was found to be $5,760. Does this sample provide enough evidence to challenge the findings by Sallie Mae? α = 0.05. What are the null and alternative hypotheses for this study?
Group of answer choices
Ho: µ ≤ 6130; Ha: µ > 6130
Ho: µ ≥ 6130; Ha: µ < 6130
Ho: µ = 6130; Ha: µ ≠ 6130
Ho: µ = 5760; Ha: µ ≠ 5760
solution
Test hypothesis:
Null hypothesis:Ho: µ = 6130
Alternate hypothesis:Ha: µ ≠ 6130
Option C is right answer
According to the government lending institute Sallie Mae, students graduating college in United States have an...
According to the government lending institute Sallie Mae, students graduating college in United States have an average credit card debt of $6,130 with a standard deviation of $840. A random sample of 27 graduating seniors was selected, and their average credit card debt was found to be $5,760. Does this sample provide enough evidence to challenge the findings by Sallie Mae?a=0.05. What is the test statistic?
According to the government lending institute Sallie Mae, students graduating college in United States have an average credit card debt of $6,130 with a standard deviation of $840. A random sample of 27 graduating seniors was selected, and their average credit card debt was found to be $5,760. Does this sample provide enough evidence to challenge the findings by Sallie Mae? α = 0.05. What is the test statistic? Group of answer choices z = 2.29 t= -2.29 z =...
According to the government lending institute Sallie Mae, students graduating college in United States have an average credit card debt of $6,130 with a standard deviation of $840. A random sample of 27 graduating seniors was selected, and their average credit card debt was found to be $5,760. Does this sample provide enough evidence to challenge the findings by Sallie Mae? α = 0.05. What is the decision? Group of answer choices There is not enough evidence to prove that...
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