A Study by a Bank Compared the Average Savings of Customers

question 31

Short Answer

A study by a bank compared the average savings of customers who were depositors for three years or less, with those who had been depositors for more than three years. The results of a sample are:
To test that the two groups of customers have equal savings rates, what is the critical value of z using $\alpha$ = 0.05? ___________

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Definitions:

Outsourcing

The business practice of hiring external vendors to perform tasks, handle operations, or provide services that are either difficult to manage or outside of the company's core competencies.

Logistics Function

The process of planning, executing, and controlling the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption to meet customer requirements.

Third Party

An entity involved in a transaction or process that is neither the primary nor secondary party, often providing intermediary services or products.

Supply Chain

The interconnected system comprising people, businesses, assets, processes, and technology that takes part in producing and distributing a good, from getting raw materials from the supplier to manufacturing, and finally to the consumer.