Formulate the hypotheses to determine the mean of all account balances, homework help

Jan 12th, 2016
Steve1995
Category:
Statistics
Price: $10 USD

Question description

  • Question 1

    A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126.

    1. Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150.
    2. Compute the test statistic.
    3. Using the p-value approach, what is your conclusion? Let α = .05.

I HAVE ATTACHED DOCUMENT WITH OTHER QUESTIONS BECAUSE THEY INCLUDE PICS.WEEK 6 ASSISGNMENT STATISTICS.docx 


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(Top Tutor) Daniel C.
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