Answer Happy

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 31 cardholders has a mean credit card balance of $5,134 and a standard deviation of $625. At «-0.01, can you support the claim? Complete parts (a) through (e) below. Assume the population is normally distributed, (a) Write the claim mathematically and identify Ho and Ha. Which of the following correctly states Ho and HA? O A. Ho: $5,000 HA: > $5,000 OD. Ho: 2$5,000 HA<$5,000 OB. Ho: $5,000 HA/$5,000 OE. Hou > $5,000 Haus $5,000 OC. Ho us$5,000 Hal > $5,000 OF. Hou > $6,000 Hous$5,000 (b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? to 10-0 (Use a comma to separate answers as needed, Round to three decimal places as needed.) nomor horlog within your choice

(b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s), to? to=0 (Use a comma to separate answers as needed. Round to three decimal places as needed.) Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice. (Round to three decimal places as needed.) OA. O A. t. OB. t< and t> 1 O C. t> OD <t< (c) Find the standardized test statistic t. t= (Round to two decimal places as needed.)

(c) Find the standardized test statistic t. (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Fail to reject Ho because the test statistic is in the rejection region. OB. Fail to reject Ho because the test statistic is not in the rejection region. O C. Reject Ho because the test statistic is in the rejection region. OD. Reject Hy because the test statistic is not in the rejection region. (e) Interpret the decision in the context of the original claim. A. At the 1% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $5,000. B. At the 1% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $5,000.

(e) Interpret the decision in the context of the original claim. O A. At the 1% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is less than $5,000. OB. At the 1% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is greater than $5,000. O C. At the 1% level of significance, there is sufficient evidence to support the claim that the mean credit card debt is less than $5,000. O D. At the 1% level of significance, there is not sufficient evidence to support the claim that the mean credit card debt is greater than $5,000.