Question:

# A credit card company claims that the mean credit card debt

Last updated: 4/15/2024

A credit card company claims that the mean credit card debt for individuals is greater than 4 900 You want to test this claim You find that a random sample of 37 cardholders has a mean credit card balance of 5 046 and a standard deviation of 650 At a 0 01 can you support the claim Complete parts a through e below Assume the population is normally distributed What is are the critical value s to to 2 435 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 t C t B t and t D t 2 435 c Find the standardized test statistic t t 1 37 Round to two decimal places as needed d Decide whether to reject or fail to reject the null hypothesis A Reject Ho because the test statistic is not in the rejection region B Fail to reject Ho because the test statistic is not in the rejection region C Fail to reject Ho because the test statistic is in the rejection region OD Reject Ho because the test statistic is in the rejection region e Interpret the decision in the context of the original claim OA At the 1 level of significance there is not sufficient evidence to support the claim that the mean credit card debt is greater than 4 900 OB At the 1 level of significance there is sufficient evidence to support the claim that the mean credit card debt is less than 4 900 OC At the 1 level of significance there is not sufficient evidence to support the claim that the mean credit card debt is less than 4 900 OD At the 1 level of significance there is sufficient evidence to support the claim that the mean credit card debt is greater than 4 900