A recent survey by nerdwallet indicated Americans paid a mean of $6,658 interest on credit card debt in 2017. A sample of 12 households with children revealed the following amounts. 7,077 5,744 6,753 7,381 7,625 6,636 7,164 7,348 8,060 5,848 9,275 7,052 Click here for the Excel Data File State the null hypothesis and the alternate hypothesis. State the decision rule for 0.05 significance level. (Round your answer to 3 decimal places.) Compute the value of the test statistic. (Round your answer to 3 decimal places.) Is it reasonable to conclude that these households paid more interest than the survey result

The null hypothesis is

Tha alternate hypothesis is

The decision rule is that if , the null hypothesis is not rejected, that is, there is no evidence to conclude that these households paid more interest than the survey result, and that if , the null hypothesis is reject and there is evidence to conclude that these households paid more interest than the survey result.

The test statistic is

As the test statistic of is higher than the critical value of t, it is reasonable to conclude that these households paid more interest than the survey result

Step-by-step explanation:

A recent survey by nerdwallet indicated Americans paid a mean of $6,658 interest on credit card debt in 2017. Test if it is reasonable to conclude that these households paid more interest than the survey result.

At the null hypothesis, we test if they paid the same, that is:

At the alternate hypothesis, we test if they paid more, that is:

Test statistic:

The test statistic is:

In which X is the sample mean, is the value tested at the null hypothesis, s is the standard deviation of the sample and n is the size of the sample.

State the decision rule for 0.05 significance level.

Right-tailed test(test if the mean is higher than the value) with 12 - 1 = 11 degrees of freedom, has a critical value of t = 1.976.

So

The decision rule is that if , the null hypothesis is not rejected, that is, there is no reasonable evidence to conclude that these households paid more interest than the survey result, and that if , the null hypothesis is reject and there is reasonable evidence to conclude that these households paid more interest than the survey result.

6658 is tested at the null hypothesis:

This means that

Sample mean and standard deviation:

With the given data-set:

Mean of

Standard deviation of

Sample of 12:

This means that

Compute the value of the test statistic.

As the test statistic of is higher than the critical value of t, it is reasonable to conclude that these households paid more interest than the survey result

i'm not sure what you mean but in todays world there is a lot of women that are the bread winners in the family. there is a lot more single mothers now that are going back to get an education which is boosting the economy. i believe there has been a boost in the economy due to women the cosmetic industry is boosting, chemist, the sky is becoming the limit for women in todays economy. most women are also putting off having kids just to make sure they have a education. i don't know how these two relate though to scriptures because it's not the way the lord wanted it. the man is suppose to be the bread winner and due to social media and the easy access we have there is a lot of cheating going on.

step-by-step explanation:

the ratio of balloons to tables is 5: 2 and the constant variation is 5.

the equation is y=5x