Test Hypotheses About a Population Proportion
-A Brokerage Firm Needs $\$ 250$

Short Answer

Test Hypotheses about a Population Proportion
-A brokerage firm needs information concerning the standard deviation of the account balances of its customers. From previous information it was assumed to be $\$ 250$ . A random sample of 61 accounts was checked. The standard deviation was $\$ 286.20$ . At $\alpha = 0.01$ , test the firm's assumption. Assume that the account balances are normally distributed.