The average credit card debt for a recent year was $9540. Five years earlier the average credit card debt was $8880. Assume sample sizes of 34 were used and the population standard deviations of both samples were $1069. Is there evidence to conclude that the average credit card debt has increased? Use .
a. State the hypotheses.
b. Find the critical value.
c. Compute the test statistic.
d. Make the decision.
e. Summarize the results.

Question

The average credit card debt for a recent year was $9540. Five years earlier the average credit card debt was $8880. Assume sample sizes of 34 were used and the population standard deviations of both samples were $1069. Is there evidence to conclude that the average credit card debt has increased? Use  .
a. State the hypotheses.
b. Find the critical value.
c. Compute the test statistic.
d. Make the decision.
e. Summarize the results.

Quizplus · Accepted Answer

The Answer of The average credit card debt for a recent year was $9540. Five years earlier the average credit card debt was $8880. Assume sample sizes of 34 were used and the population standard deviations of both samples were $1069. Is there evidence to conclude that the average credit card debt has increased? Use  .
a. State the hypotheses.
b. Find the critical value.
c. Compute the test statistic.
d. Make the decision.
e. Summarize the results.

The Average Credit Card Debt for a Recent Year Was