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A bank wonders if omitting the annual fee for customers who charge at least $4000 per year would increase the amount of credit card usage (i. e. the total amount charged in a year). The bank makes this offer to a random sample of customers that have spent at least $4000. It then compares how much these customers charged this year with how much they charged last year. This data is found on sheet "CC Fees." Is there evidence at a 5% significance level to state that the mean amount increases when the "no-fee" offer was given?

A bank wonders if omitting the annual fee for customers who charge at least $4000 per year would increase the amount of credit card usage (i. e. the total amount charged in a year). The bank makes this offer to a random sample of customers that have spent at least $4000. It then compares how much these customers charged this year with how much they charged last year. This data is found on sheet "CC Fees." Is there evidence at a 5% significance level to state that the mean amount increases when the "no-fee" offer was given?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.2: Representing Data
Problem 22PFA
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A bank wonders if omitting the annual fee for customers who charge at least $4000 per year would increase the amount of credit card usage (i. e. the total amount charged in a year). The bank makes this offer to a random sample of customers that have spent at least $4000. It then compares how much these customers charged this year with how much they charged last year. This data is found on sheet "CC Fees." Is there evidence at a 5% significance level to state that the mean amount increases when the "no-fee" offer was given?
Transcribed Image Text:A bank wonders if omitting the annual fee for customers who charge at least $4000 per year would increase the amount of credit card usage (i. e. the total amount charged in a year). The bank makes this offer to a random sample of customers that have spent at least $4000. It then compares how much these customers charged this year with how much they charged last year. This data is found on sheet "CC Fees." Is there evidence at a 5% significance level to state that the mean amount increases when the "no-fee" offer was given?
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