A Manager of the Credit Department for an Oil Company

question 52

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 auditor should conclude that there is
Evidence that the mean 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 population mean
• D) t-test of a population proportion

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Definitions:

Social

Referring to the activities that involve interactions among people and communities.

Self-actualization

A person's realization or fulfillment of their talents and potentialities, considered as a drive or need present in everyone.

Physiological

Physiological pertains to the functions and processes of the organs and systems within a living organism, often studied in the context of health and disease.

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow that suggests human needs are arranged in a hierarchy, starting from basic needs such as food and shelter up to self-actualization.