A credit Bureau analysis of undergraduate student credit records found that the mean number of credit...

A credit Bureau analysis of undergraduate student credit records found that the mean number of credit cards that an undergraduate carries is 5. There is some evidence that this occurs as credit card companies flood college campuses with prizes and gifts for signing up for the cards. CSU banned these types of initiatives from campus in 2014 and they argue that at CSU a typical undergraduate will have less than 5 cards due to this. You want to determine if the claim by CSU is correct and you sample 25 of your fellow undergraduates and find a mean of 4.25 cards with a standard deviation of 2.5 cards. Test CSU’s claim at the .05 significance level. Be sure to show the claim and the null and alternative hypothesis. What do you conclude about the null hypothesis? Do you think that the CSU initiative has worked?

Solutions

Expert Solution

Let denotes the average number of cards of typical undergraduate at CSU.

There is not sufficient evidence to support the claim that at CSU a typical undergraduate will have less than 5 cards.

No, the CSU initiative has not worked.

orchestra answered 1 year ago

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