Hypothesis Analysis on Lion Store Customers
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State the null and alternate hypotheses, the decision rule, find the test statistic, state the decision, and estimate the P value for the following:
A sample of 200 Lion Store charge customers 50 years or older showed that 20 did not pay their entire balance at the end of the month. A sample of 300 customers under 30 showed that 50 did not pay their entire balance at the end of the month. At the .02 significance level can we conclude that a larger percent of the younger customers do not pay their entire balance at the end of the month?
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Solution Summary
State the null and alternate hypotheses, the decision rule, find the test statistic, state the decision, and estimate the P value for the following:
A sample of 200 Lion Store charge customers 50 years or older showed that 20 did not pay their entire balance at the end of the month. A sample of 300 customers under 30 showed that 50 did not pay their entire balance at the end of the month. At the .02 significance level can we conclude that a larger percent of the younger customers do not pay their entire balance at the end of the month?
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