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home / study / math / statistics and probability / statistics and probability questions and answers / it is often useful for companies to know who their customers are and how they became customers. ... Your question has been posted. We'll notify you when a Chegg Expert has answered. Post another question. Next time just snap a photo of your problem. No typing, no scanning, no explanation required. Get Chegg Study App Question: It is often useful for companies to know who their customers are and how they became customers. A... Edit question It is often useful for companies to know who their customers are and how they became customers. A credit card company is interested in whether the owner of the card applied for the card on his or her own or was contacted by a telemarketer. The company obtained the following sample information regarding end-of-the-month balances for the two groups (assume population standard deviations are not the same):

Applied: mean = $1,568 st.dev = $356 n=10

Contacted: mean = $1,967 st. dev = $857 n=8

Is it reasonable to conclude the mean balance is larger for the credit card holders that were contacted by telemarketers than for those who applied on their own for the card? Level of significance is .05. Which Excel command correctly gives the t-value (the critical value for the hypothesis test)?

Question 3 options:

A. =t.inv(0.95, 8)

B. =t.inv(0.025, 8)

C.=norm.dist(8, 1)

D.=norm.dist(8, 0)

Explanation / Answer

Option (A) is correct.

The excel command for t value is =t.inv(0.95,8)

Where 0.95 is the probability amd 8 is the degree of freedom.

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