Suppose you want to compare the amount of credit card debt for males and females.
View the step-by-step solution to:

Question

Suppose you want to compare the amount of credit card debt for males and females. The null hypothesis for this

problem would be no difference in the mean amount of credit card debt for males and females and the alternate hypotheses would be that there is a difference in mean amounts of credit card debt.  Conduct a randomization test for two means with 3000 randomizations. (Your input menu should be as follows.)

a) Paste the output from your randomization test here.

b) What is the mean difference in credit card debt of the two groups in the original data?

c) What p-value did you get in your randomization? Explain in the context of the problem what the p-value means.

d) Do you think the data support the null hypothesis of no difference in mean credit card debt between males and females or the alternate hypothesis that there is a difference? Explain your answer.

Top Answer

Let me explain the... View the full answer

ans.docx

A. B.) Mean difference = 0.1887 + 0.1806 = 0.3693
C.) Z = 0.3693/√(0.3693×0.6307)
= 0.7652
P-value = 0.4441 > 0.05 D.) the data support the null hypothesis of no difference in mean credit...

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question