Using basic demographic information (age, household income, marital status, etc.), you collect a random sample size...
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Using basic demographic information (age, household income,marital status, etc.), you collect a random sample size 190customers who accepted a special balance transfer offer from amajor credit card company six months ago. The company wants todetermine if there is evidence that it would profit by offering thedeal to the population of customers with those same demographiccharacteristics. The sample mean balance transfer amount is 1,935with a sample standard deviation of 424. Based on the informationabove, if the company were to perform a hypothesis test at ? =0.05, what is the largest value it could specify in the nullhypothesis and still fail to reject the null hypothesis? Hint:Think about the relationship between hypothesis tests andintervals. Specifically, think about how a test done at alphaequals 0.05 would relate to a 95% confidence interval?
Using basic demographic information (age, household income,marital status, etc.), you collect a random sample size 190customers who accepted a special balance transfer offer from amajor credit card company six months ago. The company wants todetermine if there is evidence that it would profit by offering thedeal to the population of customers with those same demographiccharacteristics. The sample mean balance transfer amount is 1,935with a sample standard deviation of 424. Based on the informationabove, if the company were to perform a hypothesis test at ? =0.05, what is the largest value it could specify in the nullhypothesis and still fail to reject the null hypothesis? Hint:Think about the relationship between hypothesis tests andintervals. Specifically, think about how a test done at alphaequals 0.05 would relate to a 95% confidence interval?
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