polling organization reported data from a survey of 2000 randomly selected Canad

Question

polling organization reported data from a survey of 2000 randomly selected Canadians who camy debit cards. Partcipants in this survey were asked what they considered the to use a debit card. Suppose that the sample mean and standard deviation were s9.13 and S7.20, respectively. minimum purchase amount for which it would be acceptable of the sample data that appears in the report.) mhese values are consistent with a hstogram Do these data provide convincing evidence that the mean minimum purchase amount for which Canadans consider the use of a debitcard tobe appropriate is less than $10? Carry out a hypothesis test with a signifcance level of 0.01. (use statistical computer package to calculate the Avalue Round your test statistic to two decimal places and your P value to three decimal places.) State your concusion. O Retect Ho we have convincing evidence tatthe mean minimum purchase amount for w canadans onsider acceptablete eadebt ard""""an" we do not have convincing evidence that the mean minimum purchase amount for which canadans consider it than $10. Aependix Ane answer this uestion vou may need to use the averopriate table in O U

Explanation / Answer

mean =10

here Xbar = 9.13

and std error =std deviation/(n)1/2 where n=2000

=0.161

hence tstat =(Xbar-mean)/std error =-5.40

here degree of freedom =n-1 =2000-1 =1999

also it is a left tailed test

hence for 1999 df and above t; p value =0.000

as p value is less then 0.01 level, we reject null hypothesis that mean value is 10.

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