According to a 2016 report, 40% of 18-to-20-year-old students use credit cards for everyday purchases. Suppose a local b

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According To A 2016 Report 40 Of 18 To 20 Year Old Students Use Credit Cards For Everyday Purchases Suppose A Local B 1 (35.45 KiB) Viewed 23 times

According to a 2016 report, 40% of 18-to-20-year-old students use credit cards for everyday purchases. Suppose a local bank believes that this share will increase over time because of shopping behaviors of students. To test this hypothesis, a random sample of 315 students was selected, 151 of whom use credit cards for everyday purchases. Using a=0.01, complete parts a through c. .. a. State the null and alternative hypothesis. Let p be the population proportion. Determine the null hypothesis, Ho, and the alternative hypothesis, Hi- Hops 40 H:p> 40 (Type integers or decimals. Do not round.) b. What conclusions can be drawn for this test? Identify the critical value. (Round to two decimal places as needed.) Calculate the appropriate test statistic. Zp= (Round to two decimal places as needed.)

What is the final conclusion? O A. Do not reject Ho. There is enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. OB. Reject Ho. There is not enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. O C. Do not reject Ho. There is not enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. OD. Reject Ho. There is enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. c. Determine the p-value for this test and interpret its meaning, p-value = (Round to three decimal places as needed.) Interpret the meaning of the p-value. Choose the correct answer below. A. Reject Ho. There is enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. B. Reject Ho. There is not enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. O C. Do not reject Ho. There is enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased. D. Do not reject Ho. There is not enough evidence to conclude that the proportion of students that use credit cards for everyday purchases has increased.