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Author Question: A sample of 81 account balances of a credit company showed an average balance of $1,200 with a ... (Read 56 times)

erikka246

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on: Mar 25, 2023

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.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by erikka246 on Mar 25, 2023

Hamad

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Reply #1 on: Mar 25, 2023
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erikka246

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Reply 2 on: Mar 25, 2023
Wow, this really help

matt95

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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