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Chapter 10: Q.4 (page 621)

Credit cards and incentives A bank wants to know which of two incentive plans will most increase the use of its credit cards. It offers each incentive to a group of current credit card customers, determined at random, and compares the amount charged during the following six months.

(a) Is this a problem with comparing means or comparing proportions? Explain.

(b) What type of study design is being used to produce data?

Short Answer

Expert verified

From the given information,

a) It is about comparing means.

b)Experimental type of study design is being used to produce data.

Step by step solution

01

Part (a) Step 1: Given Information

It is given in the question that, a bank needs to determine which of two incentive strategies will increase Visa usage the greatest. It gives every incentive to a randomly selected group of current Visa clients and considers the amount charged over the preceding six months.

02

Part (a) Step 2: Explanation

In this situation, two scores are involved, and scores are numerical numbers. Mean scores can be calculated because the data is numerical. As a result, the problem can be characterised as a comparison of means..

03

Part (b) Step 1: Given Information

It is given in the question that, a bank needs to determine which of two incentive strategies will increase Visa usage the greatest. It gives every incentive to a randomly selected group of current Visa clients and considers the amount charged over the preceding six months. What type of study design is being used to produce data?

04

Part (b) Step 2: Explanation

The volunteers in an experimental study are given treatment and their responses are tracked. In this experiment, subjects were utilized to track the response.

As a result, it's merely a test.

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Most popular questions from this chapter

AP3.25. Suppose the null and alternative hypotheses for a significance test are defined as H0:渭=40H伪:渭<40 Which of the following specific values for Ha will give the highest power?

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In an experiment to learn whether Substance M can help restore memory, the brains of 20rats were treated to damage their memories. The rats were trained to run a maze. After a day, 10rats (determined at random) were given M and 7of them succeeded in the maze. Only 2of the 10control rats were successful. The two-sample z test for 鈥渘o difference鈥� against 鈥渁 significantly higher proportion of the M group succeeds鈥�

(a) gives z=2.25,P<0.02

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The Candy Shoppe assembles gift boxes that contain 8 chocolate truffles and two handmade caramel nougats. The truffles have a mean weight of 2 ounces with a standard deviation of 0.5 ounce, and the nougats have a mean weight of 4 ounces with a standard deviation of 1 ounce. The empty boxes weigh 3 ounces with a standard deviation of 0.2 ounce.

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