College Students and Credit Card Debt In exercise 13.24 you compared credit card debts for college men and women using the Mann-Whitney test to compare medians. We’ll use the same data again, but this time you will apply a randomization test to determine whether men and women in college have different
a. Why are medians a better choice than means for comparing typical debts of men and women? Refer to the histograms given in Exercise 13.24.
b. The sample medians were $1250 for men and $725 for women, so the difference of men minus women was $525. This value is indicated with a red vertical line in the histogram. Is the observed difference unusually large? Explain.
c. The proportion of differences in the histogram that were greater than or equal to $525 is 0.245, as shown in Figure
b. Our alternative hypothesis, that the medians are different, requires a two-sided test. However, with a significance level of 0.05, and knowing that the two-sided
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Introductory Statistics
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