Essay
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.
Correct Answer:
Verified
a. 
b. C.V. = 1.65
c. z = 2.55...View Answer
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Correct Answer:
Verified
b. C.V. = 1.65c. z = 2.55...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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