A Manager of the Credit Department for an Oil Company

question 101

Multiple Choice

A manager of the credit department for an oil company would like to determine whether the mean monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the mean owed is $83.40 with a sample standard deviation of $23.65. If you wanted to test whether the auditor should conclude that there is evidence that the mean balance is different from $75, which test would you use?

• A) Z-test of a population mean
• B) Z-test of a population proportion
• C) t-test of a population mean
• D) t-test of a population proportion

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Definitions:

Teenage Pregnancy

Pregnancy in individuals under the age of 20, which can pose challenges to the health, economic prospects, and social status of young mothers.

Child Abuse

Physical, sexual, or psychological maltreatment or neglect of a child, especially by a parent or guardian.

Family Is Deteriorating

A perspective suggesting that traditional family structures and values are in decline.

Financial Success

Achieving a level of wealth, income, or financial stability that meets or exceeds one's goals and needs.