The average credit card debt for a recent year was $8824. Five years earlier the average credit card debt was $8159.

Published by admin at August 15, 2023

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The average credit card debt for a recent year was $8824. Five years earlier the average credit card debt was $8159. Assume the sample sizes of 35 were used and the population standard deviations of both samples were $1396. Is there evidence to conclude that the average credit card debt has increased? Use a=0.05.

a. state the hypotheses.

b. find the critical value

c. compute the test statistic.

d. make the decision and summarize the results

The average credit card debt for a recent year was $8824. Five years earlier the average credit card debt was $8159.

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