Mathematics, 08.12.2021 01:00 fraven1819

A credit card company claims that the mean credit card debt for individuals is greater than $5,000. You want to test this claim. You find that a random sample of 35 cardholders has a mean credit card balance of $5,160 and a standard deviation of $625. At α=0.05, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identify H0 and Ha. Which of the following correctly states H0 and Ha?

(b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), t0?

(c) Find the standardized test statistic t.

(d) Decide whether to reject or fail to reject the null hypothesis.

(e) Interpret the decision in the context of the original claim.

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A credit card company claims that the mean credit card debt for individuals is greater than $5,000....