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

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• 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

Carnegie Mellon University

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