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 $7.80, 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. Do not reject H_0. 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 H_0. 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. Reject H_0. 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 H_0. 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

Answer:

Lower tail test

t = -4.99

P value =0.000

Option 3

Reject Ho. We have convincing evidence that the mean minimum purchase amount for which Canadians consider it acceptable to use a debt is less than $10.

t Test for Hypothesis of the Mean

Data

Null Hypothesis                m=

10

Level of Significance

0.01

Sample Size

2000

Sample Mean

9.13

Sample Standard Deviation

7.8

Intermediate Calculations

Standard Error of the Mean

0.1744

Degrees of Freedom

1999

t Test Statistic

-4.9882

Lower-Tail Test

Lower Critical Value

-2.3282

p-Value

0.0000

Reject the null hypothesis

t Test for Hypothesis of the Mean

Data

Null Hypothesis                m=

10

Level of Significance

0.01

Sample Size

2000

Sample Mean

9.13

Sample Standard Deviation

7.8

Intermediate Calculations

Standard Error of the Mean

0.1744

Degrees of Freedom

1999

t Test Statistic

-4.9882

Lower-Tail Test

Lower Critical Value

-2.3282

p-Value

0.0000

Reject the null hypothesis

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