Carry out a hypothesis test with a significance

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Reference no: EM131820886

The international polling organization Ipsos reported data from a survey of 2000 randomly selected Canadians who carry debit cards (Canadian Account Habits Survey, July 24, 2006). Participants in this survey were asked what they considered the minimum purchase amount for which it would be acceptable to use a debit card. Suppose that the sample mean and standard deviation were $9.15 and $7.60, respectively. (These values are consistent with a histogram of the sample data that appears in the report.) Do these data provide convincing evidence that the mean minimum purchase amount for which Canadians consider the use of a debit card to be appropriate is less than $10? Carry out a hypothesis test with a significance level of .01.

Reference no: EM131820886

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