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Compute the value of the test statistic

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A credit card company wants to evaluate the usage of their card, 20 randomly selected credit card holders were surveyed, and the mean amount they charged in the past twelve months was found to be $2017, while the standard deviation was $867. Use a 0.025 significance level to evaluate the claim that the mean amount charged by all credit card holders was greater than $1750.

a. State the null and alternate hypotheses.

Ho : H1:

b. State the decision rule.

c. Compute the value of the test statistic.

d. Compute the p-value.

e. What is your decision regarding the null hypothesis?

Reference no: EM132518847

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