In: Statistics and Probability
A credit card company reported that its overall population of customers had a mean balance of $3,500 for the year | |||||||||
2019, with a population standard deviation of $2000. A sample of 35 customers this year showed a mean balance of | |||||||||
$4,200. Based on that sample, can we conclude that the population mean has increased? | |||||||||
Use alpha of .01 | |||||||||
For full credit, state and clearly label the null and alternate hypotheses and the givens, state the alpha, find the | |||||||||
test statistic, say what distribution you will be using, sketch the distribution and the tail you will be | |||||||||
finding, find the p, and state your conclusion. | |||||||||
If alpha had been .05, would you have a different conclusion? What would it be? |
5 as prau > .01 so we can meet reject the mill hypothais. Ho gt mean that u = 3,500. That is pop s increased. mean is not greater than resect means that I L=105. Zcos) a 1.96 As calculated value of t is tabulased valve so we can the Mule hypothesis. at pop" near has increased, 3 CScanned with CamScanner
5 as prau > .01 so we can meet reject the mill hypothais. Ho gt mean that u = 3,500. That is pop s increased. mean is not greater than resect means that I L=105. Zcos) a 1.96 As calculated value of t is tabulased valve so we can the Mule hypothesis. at pop" near has increased, 3 CScanned with CamScanner