Reference no: EM131435364
According to American Consumer Credit Counseling statistics, credit card debt is the third largest source of household indebtedness. The following data were collected from a random sample of 12 credit cards.
Credit card balance: $10,099.00, $18,531.00, $14346.00, $12,671.00, $3492.00, $6115.00, $13,916.00, $11,817.00, $15,963.00, $5204.00, $4247.00, $14,652.00
Can you reject the hypothesis that the mean credit card balance is no less than $6630 at α=0.005?
Step 1: H0: (u or p), greater than less than, equal, equal or greater or less, etc
Same for HA
All from Step 1- Step 7
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