Question
In: Statistics and Probability
In a study about undergraduate student credit card usage, it was reported that undergraduate students have...
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, assume a population
standard deviation of 1100.
Suppose you look at a random sample of 96 undergraduate students
with a sample mean credit card balance of $3498.6.
You wish to test the claim that the mean credit card balance is
higher than it was in 2009 at the α=α=0.005 level.
What is the t stat
what is the p value equal to.
Solutions
orchestra answered 1 year agoRelated Solutions
In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students...
In a study entitled How Undergraduate Students Use Credit Cards,
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. 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, use a population
standard deviation σ= $1000.
State...
In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students...
In a study entitled How Undergraduate Students Use Credit Cards,
Sallie Mae reported that undergraduate students have a mean credit
card balance of $3173. This figure was an all-time high and had
increased drastically over the previous five years. Assume that a
current study is being conducted to determine whether it can be
concluded that the mean credit card balance for undergraduate
students has continued to increase compared to the April 2009
report (i.e. greater than 3173). Based on previous...
In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students...
In a study entitled How Undergraduate Students Use Credit Cards,
Sallie Mae 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 whether it can be
concluded that the mean credit card balance for undergraduate
students has continued to increase to the April
2009 report.
Based upon previous studies, the population standard deviation...
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...
Credit card usage in the United States is substantial. Many startup companies use credit cards as...
Credit card usage in the United States is substantial. Many
startup companies use credit cards as a way to help meet short-term
financial needs. The most common forms of debt for startups are use
of credit cards and loans from relatives.
Suppose that you start up Brothers Sandwich Shop. You invested
your savings of $20,000 and borrowed $70,000 from your relatives.
Although sales in the first few months are good, you see that you
may not have sufficient cash to...
Credit card usage in the United States is substantial. Many startup companies use E credit cards...
Credit card usage in the United States is substantial. Many
startup companies use E credit cards as a way to help
meet short-term financial needs. The most common forms of debt for
startups are use of credit cards and loans from relatives.
Suppose that you start up Fantastic Sandwich Shop. You invested
your savings of $20,000 and borrowed $70,000 from your relatives.
Although sales in the first few months are good, you see that you
may not have sufficient cash...
In a study of habits of undergraduate students, a researcher sampled 53 students and found that...
In a study of habits of undergraduate students, a researcher
sampled 53 students and found that the mean number of classes
missed over the course of a school year was 18. Assume the
population standard deviation, σ = 5.7.
(5 points) Calculate the 95% confidence interval for the mean
number of classes missed during the school year by undergraduate
students.
(2 points) If the researcher had sampled 75 students, would the
margin of error be larger or smaller?
(2 points)...
financial impact of credit card on international students in canada
financial impact of credit card on international students in
canada
You have a friend that is about to start a small business using a credit card. They...
You have a friend that is about to start a small business using
a credit card. They understand nothing about accounting
and think they will have all of the information they will need to
manage the company by keeping track of their credit card
balance. Please explain to them what type of accounting
information they will need to help them run the business.Be sure to
use the terminology and information from the textbook
Credit for Students Credit card vendors are allowed to setup booths on campus at the beginning...
Credit for Students
Credit card vendors are allowed to setup booths on campus at the
beginning of each semester. Students are enticed to apply for
credit cards through various "offers" (Free tee-shirts, coffee
mugs, etc.).
Is this a good thing? Discuss your answer in terms of what the
students get, what the vendors get and what the campus (student
organizations) may get.
In addition, with all this "getting", are there any potential
problems?
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