Question

In 2016 the Reserve Bank of Australia reported that 43% of individuals still used cash on a regular basis to make payments. The 2019 Survey of Consumer Payments showed that in a sample of 1500 respondents, 480 indicated they use cash on a regular basis. Does this data indicate that there has been a decrease in the proportion of consumers using cash regularly at a 1% level of significance?

Name: in 2016 the reserve bank of australia reported that 43 of individuals still used cash on a regular basis to make payments the 2019 survey of consumer payments showed that in a sample of 1500 40368
Uploaded: 2022-05-17T12:25:03-08:00
Duration: 3 min 18 s
Channel: David Nguyen
Description: in 2016 the reserve bank of australia reported that 43 of individuals still used cash on a regular basis to make payments the 2019 survey of consumer payments showed that in a sample of 1500 40368

          In 2016 the Reserve Bank of Australia reported that 43% of
individuals still used cash on a regular basis to make payments.
The 2019 Survey of Consumer Payments showed that in a sample of
1500 respondents, 480 indicated they use cash on a regular basis.
Does this data indicate that there has been a decrease in the
proportion of consumers using cash regularly at a 1% level of
significance?

Added by Jennifer K.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert David Nguyen

05/17/2022

Step 1

- Alternative Hypothesis (H1): The proportion of consumers using cash regularly has decreased from 43%. Show more…

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In 2016 the Reserve Bank of Australia reported that 43% of individuals still used cash on a regular basis to make payments. The 2019 Survey of Consumer Payments showed that in a sample of 1500 respondents, 480 indicated they use cash on a regular basis. Does this data indicate that there has been a decrease in the proportion of consumers using cash regularly at a 1% level of significance?