Question

A survey was conducted two years ago asking college students their top motivations for using a...

A survey was conducted two years ago asking college students their top motivations for using a credit card. The percentages are shown in the table to the right. Also shown in the table is the observed frequency for these motivations from a current random sample of college students who use a credit card. Complete parts a through c below.

Response Old Survey % New Survey (frequency)

Rewards 27% 110

Low Rates 24%    97

Cash Back 21% 108

Discounts 7% 48

Others    21% 62

Calculate Test Statistic, Critical Value, and P-Value

Homework Answers

Answer #1

** For the critical value, we need the value of the significance level (alpha). You can specify the value of significance level in the comment section. I will response with the critical value immediately. Thank you.

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