A polling organization reported data from a survey of 2000 randomly selected Can

Question

A polling organization reported data from a survey of 2000 randomly selected Canadians who carry debit cards. Participants in this survey were asked what they considered the minimum purchase amount for which it would be acceptable to use a debit card. Suppose that the sample mean and standard deviation were $9.13 and $7.20, respectively. (These values are consistent with a histogram of the sample data that appears in the report.) Do these data provide convincing evidence that the mean minimum purchase amount for which Canadians consider the use of a debit card to be appropriate is less than $10? Carry out a hypothesis test with a significance level of 0.01. (Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)t = P-value = State your conclusion. Reject Ho. We have convincing evidence that the mean minimum purchase amount for which Canadians consider it acceptable to use a debit card is less than $10. Do not reject Ho. We have convincing evidence that the mean minimum purchase amount for which Canadians consider it acceptable to use a debit card is less than $10. Reject Ho. We do not have convincing evidence that the mean minimum purchase amount for which Canadians consider it acceptable to use a debit card is less than $10. Do not reject Ho. We do not have convincing evidence that the mean minimum purchase amount for which Canadians consider it acceptable to use a debit card is less than $10. You may need to use the appropriate table in Appendix A to answer this question.

Explanation / Answer

Here from data the

Mean ie xbar =9.13 and standard deviation ie sd= 7.20

Here mu=population mean

Ho:mu greater than or equal to 10

H1:mu less than 10

Here we used one sample t test

Test statistic is

t=xbar-mu/(sd/sqrt(n))

=9.13-10/(7.20/sqrt(2000))

=-5.4038

From the t table we can find the p value as

Pvalue is 3.6×10^-8 which is less than 0.01

Hence we have enough convincing evidence reject null hypothesis that the mean minimum purchased amount for which canadians consider consider it acceptable to use a debit card is less than 10

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