The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.
The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill