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The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.

The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
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The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.
Transcribed Image Text:The average credit card debt for a recent year (Group 1) was $9122. Five years earlier (Group 2) the average credit card debt was $6420. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1941. Is there enough evidence to believe that the average credit card debt has increased? Use α=0.05. Required: Test Value Round-off your answer to TWO decimal places.
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