Hypothesis Testing Using Rejection Regions In Exercises 19–26, (a) identify the claim and state H0 and Ha, (b) find the critical value(s) and identify the rejection region(s), (c) find the standardized test statistic t, (d) decide whether to reject or fail to reject the null hypothesis, and (e) interpret the decision in the context of the original claim. Assume the population is normally distributed.
Credit Card Debt A credit reporting agency claims that the mean credit card debt in Colorado is greater than $5540 per borrower. You want to test this claim. You find that a random sample of 30 borrowers has a mean credit card debt of $5594 per person and a standard deviation of $597 per person. At , can you support the claim α=0.05?