The data accompanying this exercise show the average monthly debt payments (Debt, in $) for residents of
Question:
The data accompanying this exercise show the average monthly debt payments (Debt, in $) for residents of 26 metropolitan areas.
a. State the null and the alternative hypotheses in order to test whether average monthly debt payments are greater than $900.
b. What assumption regarding the population is necessary to implement this step?
c. Calculate the value of the test statistic and the p-value. d. At α = 0.05, are average monthly debt payments greater than $900? Explain.
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a H 0 900H A 900 b Given the small sample size n 26 it is necessary to assume th...View the full answer
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Related Book For
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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