Assume that the population standard deviation is equal to 3.56, the standard dev

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Assume that the population standard deviation is equal to 3.56, the standard deviation from the NBER study.

Consumers with at least one credit card have a mean of 4.84 credit cards. [Source: Sumit Agarwal, John C. Driscoll, Xavier Gabaix, and David Laibson, "Learning in the Credit Card Market," Working Paper 13822, National Bureau of Economic Research (NBER), February 2008.] You want to test the hypothesis that the mean number of credit cards held by high-income consumers (consumers with annual incomes over $100,000) is different from the reported mean of 4.84. A random sample of 300 high-income consumers provides a sample mean number of credit cards of -4.97. Use a significance level of -.01 for the test. Use a confidence interval estimate approach to conduct the hypothesis test. confidence To use a confidence interval estimate approach to conduct the hypothesis test, you construct the interval estimate of the population mearn. confide

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Assume that the population standard deviation is equal to 3.56, the standard dev

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