Question

Question 10. In a study entitled how undergraduate Students use credit cards, it was reported that undergraduate students have a mean credit card balance of $3173. This figure was an all-time high and had increased 44% over the previous five years. assume that a current study is being conducted to determine if it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the original report. based on previous studies, use a population standard deviation s = $1000. a. State the null and alternative hypotheses. b. What is the p-value for a sample of 180 undergraduate students with a sample mean credit card balance of $3325? c. Using an ∝ .05 level of significance, what is your conclusion?

Answer #1

In a study entitled How Undergraduate Students Use Credit Cards,
it was reported that undergraduate students have a mean credit card
balance of $3,173 (Sallie Mae, April 2009). This figure was an
all-time high and had increased 44% over the previous five years.
Assume that a current study is being conducted to determine if it
can be concluded that the mean credit card balance for
undergraduate students has continued to increase compared to the
April 2009 report. Based on previous...

In a study entitled “How Undergraduate Students Use Credit
Cards”, it was reported that a sample of 1000 undergraduate
students have a mean credit card balance of $3173. This figure was
an all-time high and had increased 44% over the previous five
years. Assume that a current study is being conducted to determine
if it can be concluded that the mean credit card balance for
undergraduate students has changed compared to the original report.
Based on previous studies, use a...

In a study entitled How Undergraduate Students Use Credit Cards,
it was reported that undergraduate students have a mean credit card
balance of $3,316 . This figure was an all-time high and had
increased 49% over the previous five years. Assume that a current
study is being conducted to determine if it can be concluded that
the mean credit card balance for undergraduate students has
continued to increase compared to the report. Based on previous
studies, use a population standard...

In a study entitled How Undergraduate Students Use Credit Cards,
it was reported that undergraduate students have a mean credit card
balance of $3,173. This figure was an all-time high and had
increased 44% over the previous five years. Assume that a current
study is being conducted to determine if it can be concluded that
the mean credit card balance for undergraduate students has
continued to increase compared to the original report. Based on
previous studies, use a population standard...

In a study entitled “How Much Undergraduate Students Drink”, it was
reported that undergraduate students spend $868. This figure was an
all-time high and had increased 44% over the previous five years.
Assume that a current study is being conducted to determine if it
can be concluded that the expenditure of students on alcohol has
continued to increase compared to the original report. Based on
previous studies, use a population standard deviation of $400.
1. State the Null and alternative...

In a study about undergraduate student credit card usage, it was
reported that undergraduate students have a mean credit card
balance of $3173 (Sallie Mae, April 2009). This figure was an
all-time high and had increased 44% over the previous five years.
Assume that a current study is being conducted to determine if it
can be concluded that the mean credit card balance for
undergraduate students has continued to increase compared to the
April 2009 report. Based on previous studies,...

In a study about
undergraduate student credit card usage, it was reported that
undergraduate students have a mean credit card balance of $3173
(Sallie Mae, April 2009). This figure was an all-time high and had
increased 44% over the previous five years. Assume that a current
study is being conducted to determine if it can be concluded that
the mean credit card balance for undergraduate students has
continued to increase compared to the April 2009 report. Based on
previous studies,...

Instructions: Round all your math steps to two decimal places
just like I have been doing in class.
In a study entitled How Undergraduate Students Use Credit Cards,
it was reported that undergraduate students have a mean credit card
balance of $3,173 (Sallie Mae, April 2009). This figure was an
all-time high and had increased 44% over the previous five years.
Assume that a current study is being conducted to determine if it
can be concluded that the mean credit...

8.87 Do the significance test for the change. Refer to the
previous exercise. Perform the significance test for comparing the
two proportions. Report your test statistic, the P-value,
and summarize your conclusion.
Here the previous :
8.86 Changes in credit card usage by undergraduates. In
Exercise 8.32 (page 503), we looked at data from a survey of 1430
undergraduate students and their credit card use. In the sample,
43% said that they had four or more credit cards. A similar...

A report about how American college students manage their
finances includes data from a survey of college students. Each
person in a representative sample of 793 college students was asked
if they had one or more credit cards and if so, whether they paid
their balance in full each month. There were 500 who paid in full
each month. For this sample of 500 students, the sample mean credit
card balance was reported to be $825. The sample standard deviation...

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