A Sample of 81 Account Balances of a Credit Company

question 38

Essay

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 α = .05.

---

Definitions:

West's National Reporter

A comprehensive set of law books that publish all state appellate-level court decisions in the United States by region.

State Reporters

Published volumes of court decisions from specific states, used as references for legal cases and precedents.

Eliminated

The act of completely removing or getting rid of something.

Online Availability

Refers to the accessibility of information, services, or products over the internet at any time.