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A sample of 61 items provided a sample mean of 932, a sample mode of 900, and a sample standard deviation of 11. Test the following hypotheses using = 0.05. What is your conclusion?
Instalment Payments
Payments made periodically towards the settlement of a debt or purchase price, typically including interest.
Interest
The charge for borrowing money or the compensation paid to depositors on their deposits, usually expressed as an annual percentage rate.
Unpaid Balance
The amount of money that is still owed on a loan or credit line that has not yet been paid.
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