Statistics Problems - 10

5/23/2019 Assignment Print View

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8. Award: 0.20 points    

A recent survey by nerdwallet.com indicated Americans paid a mean of $6,658 interest on credit card debt in 2015. A sample of 12 households with children revealed the follow amounts.

7077 5744 6753 7381 7625 6636 7164 7348 8060 5848 9275 7052

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At the 0.05 significance level is it reasonable to conclude that these households have more debt?

H0. The mean interest paid is $6,658.

References

Worksheet Difficulty: 2 Intermediate Learning Objective: 10-06 Use a t statistic to test a hypothesis.