A Manager of the Credit Department for an Oil Company

question 125

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 were to conduct a test to determine whether the mean balance is different from $75 and decided to reject the null hypothesis, what conclusion could you draw?

• A) There is not evidence that the mean balance is $75.
• B) There is not evidence that the mean balance is not $75.
• C) There is evidence that the mean balance is $75.
• D) There is evidence that the mean balance is not $75.

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