Question

9.44 According to a 2016 report by Fannie Mae, 39% of 18-20 year hold students use credit cards for everyday purchases. Suppose a local bank believes that this share will increase over time because of shopping behaviors of students. To test his hypothesis, a random sample of 275 students was selected, 126 of whom use credit cards for everyday purchases. Using alpha = 0.05, answer the following.

a. State the null and alternative hypothesis.

b. Based on this sample, what conclusions can be drawn for this test?

c. Determine the p-value for this test and interpret its meaning

.

Answer 1