Adjusting for the cost of living. In Example 6.9 (page
Chapter , Problem 6.74(choose chapter or problem)
Adjusting for the cost of living. In Example 6.9 (page 373), we compared the average credit card balance between undergraduates in the Midwest and the South. In testing the difference, we considered a one-sided test because the cost of living is higher in the South (Example 6.14). Assuming that $1 in the Midwest is worth about $1.09 in the South, test whether there is a difference between the average balances in the two regions using South dollars. For simplicity, assume that the standard deviation is unchanged.
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