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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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aggotfay aggotfay
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6 years ago
A sample of 81 account balances of a credit company showed an average balance of 1200 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 1150.
  b. Compute the test statistic.
  c. Using the p-value approach, what is your conclusion? Let  = .05.
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#1
6 years ago
a . H0:  = 1150
Ha:   1150
b. t = 3.571
c. p-value (almost zero) <.005; therefore, reject H0 and conclude that the mean balance is significantly different from 1150.
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