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The average credit card debt for a recent year was $8,776. Five years earlier the average...

The average credit card debt for a recent year was $8,776. Five years earlier the average credit card debt was $8,189. Assume sample sizes of 32 were used and the population standard deviations of both samples were $690. Is there evidence to conclude that the average credit card debt has increased? Use .

a. State the hypotheses.
b. Find the critical value.
c. Compute the test statistic.
d. Make the decision.
e. Summarize the results.

Math   Statistics-And-Probability   
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