## (Solved) A credit card company claims that the mean credit card debt for individuals is greater than\$4,900. You want to test this claim.

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 30 cardholders has a mean credit card balance of \$5,083 and a standard deviation of \$600. At Î±=0.05, can you support the claim? Complete parts (a) through (d) below. Assume the population is normally distributed.

(a) State H0 and Ha.

(b) Find the criticalvalue(s) and use it to determine the rejection region.

(c) Find the standardized test statistic t.â€ƒâ€ƒ

(d) Decide whether to reject or fail to reject the null hypothesis.

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This question was answered on: Sep 05, 2019

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