Answer Happy

In a study entitled How Undergraduate Students Use Credit Cards,it was reported that undergraduate students have a mean credit cardbalance of . This figure was an all-time high and hadincreased over the previous five years. Assume that acurrent study is being conducted to determine if it can beconcluded that the mean credit card balance for undergraduatestudents has continued to increase compared to the report. Based onprevious studies, use a population standard deviation .
a. State the null and alternativehypotheses.
b. What is the -value for a sampleof undergraduate students with a sample mean credit cardbalance of ? If your answer is zero enter "0".
c. Using a level ofsignificance, what is your conclusion?
- Select your answer -Reject null hypothesis or Do not rejectnull hypothesis.
Conclude that student mean credit card debt is - Selectyour answer -higher or smaller than .
In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students have a mean credit card balance of $3,360. This figure was an all-time high and had increased 42% 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 report. Based on previous studies, use a population standard deviation = $1,100. a. State the null and alternative hypotheses. Ho: s ✓3,360 ✓3,360 Ha: > b. What is the p-value for a sample of 210 undergraduate students with a sample mean credit card balance of $3,489? If your answer is zero enter "0". z value (to 2 decimals) p-value 0.0466 (to 4 decimals) c. Using a 0.02 level of significance, what is your conclusion? - Select your answer - Conclude that student mean credit card debt is smaller ✓than $3,360.