# Question

Consumer research firm Scarborough analyzed the 10% of American adults who are either “Superbanked” or “ Unbanked.” Superbanked consumers are defined as U. S. adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments; Unbanked consumers are U. S. adults who live in a household that does not use a bank or credit union. By finding the 5% of Americans who are Superbanked, Scarborough identifies financially savvy consumers who might be open to diversifying their financial portfolios; by identifying the Unbanked, Scarborough provides insight into the ultimate prospective client for banks and financial institutions. As part of its analysis, Scarborough reported that 93% of Superbanked consumers use credit cards as compared to 23% of Unbanked consumers. (Data extracted from bit. ly/ Syi9kN.) Suppose that these results were based on 1,000 Superbanked consumers and 1,000 Unbanked consumers.

a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards?

b. Determine the p value in (a) and interpret is meaning.

c. Compare the results of (a) and (b) to those of Problem 10.32 on page 347.

a. At the 0.01 level of significance, is there evidence of a significant difference between the Superbanked and the Unbanked with respect to the proportion that use credit cards?

b. Determine the p value in (a) and interpret is meaning.

c. Compare the results of (a) and (b) to those of Problem 10.32 on page 347.

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