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# The average credit card debt for a recent year was \$8824. Five years earlier the average credit card debt was \$8159.

The average credit card debt for a recent year was \$8824. Five years earlier the average credit card debt was \$8159. Assume the sample sizes of 35 were used and the population standard deviations of both samples were \$1396. Is there evidence to conclude that the average credit card debt has increased? Use a=0.05.

a. state the hypotheses.

b. find the critical value

c. compute the test statistic.

d. make the decision and summarize the results

a. H0: μ1= μ2; H1: μ1&lt; μ2 b. from the t -table for one tailed test critical value... View the full answer

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