A credit card company tested the effectiveness of a

Last updated: 7/31/2023

A credit card company tested the effectiveness of a promotional campaign by recently sending out offers to a random sample of 60 000 cardholders Of those 1491 registered for the promotion Even though this is nearly a 2 5 rate a staff member suspects that the success rate for the full campaign will be no different than the standard 2 rate that they are used to seeing in similar campaigns What do you predict Consider an event to be rare if its probability of occurring is less than 0 10 Complete parts a c below a What are the hypotheses Let p be the population proportion of cardholders who will register for the promotion Ho P 0 02 0 02 HA P Type integers or decimals Do not round b Are the assumptions and conditions for inference met The Randomization Condition can reasonably be assumed to be satisfied The 10 Condition can reasonably be assumed to be satisfied The Success Failure Condition is satisfied c Do you think the rate would change if they use this fundraising campaign Explain The test statistic for the test is Round to two decimal places as needed The P value is Round to three decimal places as needed Reject the null hypothesis There is sufficient evidence to conclude that the success rate for this promotional campaign will be different from the standard 2 rate that the company is