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Question: Will they charge more? In Exercise, you carried out the calculations for a confidence interval based on a bank's experiment in changing the rules for its credit cards. You ought to ask some questions about this study.
(a) The distribution of the amount charged is skewed to the right, but outliers are prevented by the credit limit that the bank enforces on each card. Why can we use a confidence interval based on a Normal sampling distribution for the sample mean x¯?
(b) The bank's experiment was not comparative. The increase in amount charged over last year may be explained by lurking variables rather than by the rule change. What are some plausible reasons why charges might go up? Outline the design of a comparative randomized experiment to answer the bank's question
Exercise: Will they charge more? A bank wonders whether omitting the annual credit card fee for customers who charge at least $2500 in a year will increase the amount charged on its credit cards. The bank makes this offer to an SRS of 200 of its credit card customers. It then compares how much these customers charge this year with the amount that they charged last year. The mean increase in the sample is $346, and the standard deviation is $112. Give a 99% confidence interval for the mean amount charges would have increased if this benefit had been extended to all such customers.
a city has four exit ramps off an interstate highway. historically the percentages of exiting cars using exits 1
it is thought that prehistoric indians did not take their best tools pottery and household items when they visited
Determine: SS(xy)Linear correlation coefficient, r. Bar graph below compares mean time in seconds for 7-yr old girls to complete certain task.
A standard deck of cards is being used to play a game. There are four suits(hearts, diamonds,clubs, andspades), each having 13 faces(ace, 2,3, 4,5, 6,7, 8,9, 10,jack, queen, and king), making a total of 52 cards. This complete deck is thoroughly m..
Should Katie conduct a between-subject ANOVA or a within-subject ANOVA? Describe your answer.
oil field pipes are internally coated in order to prevent corrosion. researchers at the university of louisiana
If she gets 80 new members and they can be considered a random sample of all the museum s members, what is the probability that she can achieve her goal?
A 6 sided dice will be rolled and the die will continue to be rolled until a 3 is obtained for the third time. What is the expected number of die rolls needed?
A distribution with m = 55 and s = 6 is being standardized so that the new mean and standard deviation will be m = 50 and s = 10. When the distribution is standardized, what value will be obtained for a score of X = 58 from the original distributi..
Four properties are randomly selected from each neighborhood and the ratios recorded for each as follows:
If not what would be a better testing strategy? Could you form a Null Hypothesis or an Alternative Hypothesis? If yes, what would they be.
a company wished to study the effectiveness of a coffee break on productivity of its workers. the productiveness of
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