Question 6 Classify the hypothesis test as two-tailed, left-tailed, or right-tai
ID: 3052831 • Letter: Q
Question
Question 6
Classify the hypothesis test as two-tailed, left-tailed, or right-tailed.
The mean credit card debt among households in one state is $8400. A hypothesis test is to be performed to decide whether the mean credit card debt for households in the formerly affluent town of Rich-No-More differs from the mean credit card debt for the state.
Two-tailed
Left-tailed
Right-tailed
1 points
Question 7
Provide an appropriate response.
Is it true that the point estimate of a population mean must lie within the range of values defined by the corresponding confidence-interval estimate, regardless of the level of confidence achieved? Explain.
Yes. By definition, the prescribed confidence interval contains the value of the point estimate.
No. The confidence interval only defines a range of values that is likely to contain the point estimate with some prescribed level of confidence. This range of values is not guaranteed to contain the point estimate.
Two-tailed
Left-tailed
Right-tailed
Explanation / Answer
A hypothesis test is to be performed to decide whether the mean credit card debt for households in the formerly affluent town of Rich-No-More differs from the mean credit card debt for the state.
This is Two-tailed hypothesis test.
2) FALSE
confidence level matters
No. The confidence interval only defines a range of values that is likely to contain the point estimate with some prescribed level of confidence. This range of values is not guaranteed to contain the point estimate.