A Local Bank Needs Information Concerning the Standard Deviation of the Checking

Essay

A local bank needs information concerning the standard deviation of the checking 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 α $\alpha$ = 0.01, test the bankʹs assumption. Assume that the account
balances are normally distributed.