Question

the claim that 20% of americans know their credit score is tested. suppose that the sample evidence causes us to fail to reject the null hypothesis claim that 20% of americans know their credit score. state the final conclusion in simple non technical terms

Answer 1

Answer:

Conclusion : People ≠ 20% don't know about their credit score.

Step-by-step explanation:

Hypothesis is testing a statement for its statistical significance.

Null Hypothesis (H0)  implies 'no difference from tested value', Alternate hypothesis (H1)  implies 'significant difference from tested value'

Let % of people knowing their credit score = CS

H0 : CS = 20

H1 : CS  ≠  20

If the null hypothesis is rejected, it implies that we reject the claim that CS i.e '% of americans knowing their credit score = 20%'. So, the alternate hypothesis is accepted, i.e we conclude that '% americans knowing their credit score ≠ 20%'.