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:

Place Theory

A theory in hearing that suggests different areas of the cochlea respond to different frequencies, enabling the perception of pitch.

Frequency

The rate at which something occurs over a particular period of time or in a given sample, often used to describe the number of waves that pass a fixed point in a specific time in physics.

Electrochemical Transmission

It refers to the process by which nerve cells communicate with each other through the exchange of chemical messengers across a synapse, facilitated by electrical impulses.

Auditory Pathway

The series of structures and processes through which sound waves are transformed into electrical signals in the brain, enabling hearing.