Question: The international polling organization Ipsos reported data from a survey of 2,000 randomly selected Canadians who carry debit cards (Canadian Account Habits Survey, July 24,
The international polling organization Ipsos reported data from a survey of 2,000 randomly selected Canadians who carry debit cards (Canadian Account Habits Survey, July 24, 2006). Participants in this survey were asked what they considered the minimum purchase amount for which it would be acceptable to use a debit card. Suppose that the sample mean and standard deviation were $ 9.15 and $ 7.60 respectively. (These values are consistent with a histogram of the sample data that appears in the report.) Do the data provide convincing evidence that the mean minimum purchase amount for which Canadians consider the use of a debit card to be acceptable is less than $ 10? Carry out a hypothesis test with a significance level of 0.01.
Step by Step Solution
3.43 Rating (166 Votes )
There are 3 Steps involved in it
Using the fivestep process HMC 3 Hypotheses H We want to know if there is convincing evidence that t... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
615-M-S-Q-M (1724).docx
120 KBs Word File
