A Brokerage Firm Needs Information Concerning the Standard Deviation of the Account

question 114

Essay

A brokerage firm needs information concerning the standard deviation of the account balances of its customers.From previous information it was assumed to be $250. A random sample of 61 accounts was checked. Thestandard deviation was $286.20. At α = 0.01, test the firmʹs assumption. Assume that the account balances arenormally distributed.

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Definitions:

Glycolysis

The metabolic pathway that breaks down glucose into pyruvate, producing energy in the form of ATP and NADH, occurring in the cytoplasm.

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A decentralized network configuration where each participant, or peer, has equal privileges and shares resources directly without a centralized administrative system.

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