(Answered) According to american consumer credit counseling statistics

Finance

According to American Consumer Credit Counseling statistics, credit card debt is the third largest source of household indebtedness. The following data were collected from a random sample of 12 credit cards.

Credit card balance: $10,099.00, $18,531.00, $14346.00, $12,671.00, $3492.00, $6115.00, $13,916.00, $11,817.00, $15,963.00, $5204.00, $4247.00, $14,652.00

Can you reject the hypothesis that the mean credit card balance is no less than $6630 at α=0.005?

Step 1: H0: (u or p), greater than less than, equal, equal or greater or less, etc

Same for HA

All from Step 1- Step 7

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