A Manager of the Credit Department for an Oil Company

question 162

Multiple Choice

A manager of the credit department for an oil company would like to determine whether the average monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the average owed is $83.40 with a sample standard deviation of $23.65. If you were to conduct a test to determine whether the auditor should conclude that there is evidence that the average 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 proportion
• D) t-test of population mean

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Definitions:

Complicated Grief

An intense and prolonged period of grief that is characterized by significant impairment in daily functioning after the loss of a loved one.

Chronic

Relating to illnesses that persist for a long time or are constantly recurring.

Disenfranchised

Refers to individuals or groups who feel deprived of rights or privileges, often leading to a sense of alienation and disenchantment.

Exaggerated

Something that is overstated or represented more intensely or dramatically than is the actual case.