Mathematics, 05.05.2020 16:17 bricefitzpatrick0429
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 α = .05.
Answers: 3
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A sample of 81 account balances of a credit company showed an average balance of $1,200 with a stand...
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