This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A sample of 64 account balances from a credit company showed an average daily balance of $1,040. The ... (Read 131 times)

mustachegiraffe

  • Full Member
  • ***
  • Posts: 179
on: Mar 25, 2023

A sample of 64 account balances from a credit company showed an average daily balance of $1,040.  The standard deviation of the population is known to be $200.  We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1,000.


a.

Develop the appropriate hypotheses for this problem.

b.

Compute the test statistic.

c.

Compute the p-value.

d.

Using the p-value approach at 95% confidence, test the above hypotheses.

e.

Using the critical value approach at 95% confidence, test the hypotheses.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mustachegiraffe on Mar 25, 2023

athenaheim

  • Full Member
  • ***
  • Posts: 189
Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


mustachegiraffe

  • Member
  • Posts: 179
Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Sodium Balance Sodium Balance
Sample communication analysis Sample communication analysis
Primatologist Volker Sommer and his colleagues showed that langur infanticide had adaptive value and Primatologist Volker Sommer and his colleagues showed that langur infanticide had adaptive value and
Average national IQs according to IQ and Global Inequality Average national IQs according to IQ and Global Inequality
Sample tiered drug formulary for antibiotics. Sample tiered drug formulary for antibiotics.
A 31.1-g sample of Ne gas exerts a certain pressure in a container of fixed volume. What mass ... A 31.1-g sample of Ne gas exerts a certain pressure in a container of fixed volume. What mass ...
Video: Inflammatory response Animation

For a complete list of videos, visit our video library