Near the end of 2013, the annual percentage rate (APR) on a typical credit card had risen to approximately 15.06%.14 Usually the APR on student credit cards is slightly lower. To check this claim, a...

Near the end of 2013, the annual percentage rate (APR) on a typical credit card had risen to approximately 15.06%.14 Usually the APR on student credit cards is slightly lower. To check this claim, a random sample of student credit cards was obtained and the annual percentage rate was recorded for each. Assume that the distribution of APR on student credit cards is continuous. Use the Wilcoxon signed-rank test with a = 0.01 to determine whether there is any evidence that the median APR on student credit cards is less then 15.06.

During the summer of 2013, parents spent approximately $856 per child on summer activities. This amount was greater than in 2012, and it was expected to rise again in the summer of 2014.15 Suppose a random sample of parents with children not yet in high school was obtained. Each was asked how much they spent per child for summer 2014 activities. Assume the distribution of amount spent per child is continuous. Use the Wilcoxon signed-rank test to determine whether there is any evidence that the median amount spent per child during the summer of 2014 is greater than $856. Use a = 0.05