Essay
A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126.
a.Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150.
b.Compute the test statistic.
c.Using the p-value approach, what is your conclusion? Let = .05.
Correct Answer:
Verified
a.H0:
= 1150
Ha: 1150
b...View Answer
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Correct Answer:
Verified
= 1150Ha:
1150b...
View Answer
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